Microeconomics
$399.00
Upon completion of this course, the student will be able to:
- Analyze the economic way of thinking
- Explain how free and competitive markets allocate resources through the interaction of supply and demand
- Evaluate the different effects caused by changes in demand and supply conditions
- Evaluate the models used by economists to explain how efficient production decisions are made in an environment of scarcity
- Evaluate the impacts of government actions in markets on efficiency and fairness
- Analyze the impacts of taxes on consumers, producers, employers, and workers
- Evaluate the benefits and costs of international trade
- Assess the provision and importance of public goods
- Evaluate methods of efficiently dealing with negative externalities
- Determine how rational consumers make choices to maximize their satisfaction
- Analyze a firm’s short-run and long-run costs
- Analyze the decisions made by a firm operating in perfectly competitive markets
- Analyze the behavior of a monopoly
- Evaluate how firms in monopolistic competition and oligopoly determine their profit-maximizing strategies
- Evaluate the way factor markets determine a society’s distribution of income
This class includes the following eText:
Bade and Parkin, Foundations of Microeconomics, 6th Edition (2013); ISBN: 0132830884