Principles of Microeconomics

General

Prefix

ECON

Course Number

206

Course Level

Undergraduate

Department/Unit(s)

College/School

Herberger Business School

Description

Economic decision-making, marginal analysis, consumer and producer behavior in markets, price and output under different market structures, input markets, and policy analysis. May be taken before or after 205.

Credits

Min

3

Max

3

Goals and Diversity

MN Goal Course

Yes

MN Goal Designation(s)

05

Learning Outcomes

Outcome

Describe the nature of economics in dealing with the issue of scarcity, including the concept of opportunity cost.

Outcome

Perform supply and demand analysis to analyze the impact of economic events and government policies on market prices and output.

Outcome

Explain how consumers maximize utility and firms maximize profits, and the implications these have for supply and demand.

Outcome

Analyze the performance of firms under different market structures.

Outcome

Analyze different market failures, and determine the role of either private agents or government in dealing with these failures.

Dependencies

Courses

ECON206 is a prerequisite for:

Programs

ECON206 is a completion requirement for:
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