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
Repeatable
No
Goals and Diversity
MN Goal Course
Yes
MN Goal Designation(s)
05
Cultural Diversity
No
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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