ECO 120 - Principles of Microeconomics

3 Credit(s)

Introduction to determination of prices in product and factor markets. Topics include individual decision-making behavior of households and firms; interactions in markets of varying degrees of competition; and effects of such markets on allocation of scarce resources and distribution of income.

Course Type: Lecture
Tuition Tier: Base
Delivery Method:
In-Person, Online
CORE42 MOTR Number - Name:
MOTR ECON 102 - Introduction to Microeconomics Core MOTR Image

Course Learning Outcomes:
CLO 1) Students will define microeconomic terms.
CLO 2) Students will explain and illustrate how economists use models and theories regarding the allocation of resources in a market economy.
CLO 3) Students will apply and evaluate with microeconomic concepts the effect of government intervention in the market.
CLO 4) Students will examine the implications of changes in demand and supply on prices, quantities, and total revenues considering the concept of elasticity.
CLO 5) Students will contrast all the types of market structure and business strategies that firms adopt.
CLO 6) Students will discuss the dynamics of goods and services markets as well as the market of factors of production.