ECO 131 Principles of Economics I (Microeconomics)

This course introduces students to the production possibility frontier, supply and demand, elasticity, cost and product curves, market structures, factor markets and trade based on comparative advantage. Applications of microeconomic principles to business, households and government are emphasized in this course. The use of formal economic analysis is developed throughout this course. R, W1, 11 (3 lecture hours) IAI: S3 902 Prerequisite: MAT 092 or appropriate placement score