This course is a study of the principles of microeconomics and some of their applications. The real world presents many opportunities for making choices regarding the efficient use of society’s scarce resources and making decisions regarding the management of these resources.
The objective of this course is to introduce students to various concepts and ideas in the field of microeconomics, such as consumer choice theory, elasticities, and various market structures. Economics is about satisfying human desires in a world of scarcity. This course offers the opportunity to build a solid understanding of basic economic principles by explaining how economists interpret data and analyze economic problems. At the end of the course, you should be able to talk about economic issues with relative comfort, as you will have a better idea about how the economy works.