Short Description: Building on the foundations developed in Macroeconomics, this course in Microeconomics offers students a more in-depth look at various markets and how consumers interact. Students will begin to understand how even the concepts studied at the macro level are applicable on the smallest of scales as certain economic principles are just that concrete. Throughout the course, students will gain a thorough understanding of how markets self-correct and/or what needs to happen in order for common problems to be resolved. Students will study the both the public and private sectors, price movements depending on supply and demand principles as well as the effects of and on export and import levels. With a constant eye toward scarcity of resources, students will explore various accepted models from well-known economists, evaluate government action or inaction, analyze the impact of tax policy and income distribution. The foundation students will gain from completing this course in Microeconomics is sure to serve them for years to come regardless of their current or future profession.
The purpose of the course is for students to develop a logical, conceptual, and analytical understanding of microeconomic principles. This course introduces foundational concepts of economic principles, such as opportunity costs and supply and demand, and explores primary microeconomic principles, including efficiency and fairness in markets, government actions and their impacts, the decisions that consumers and producers make, different market structures from perfect competition to monopoly, and factor markets and income distribution. Students are presented with real-world contemporary examples that apply theory to practice, demonstrating the relevance of microeconomic thought.
Instructor Description: This class supported by an Educational Mentor. Educational mentors have worked or are working in the subject they mentor. Educational Mentors review student work, student progress, and interact with students as needed. They respond to any questions or concerns you might have, as well as encouraging and motivating you to succeed.