Principles Of Eco I
This course will introduce you to the economic way of thinking and provides basic tools of economic theory used to study markets, individual consumer behavior, and the behavior of firms. It employs concepts such as scarcity, opportunity costs, tradeoffs, marginal thinking, and gains from trade. This course will examine how markets work and how supply and demand interact to determine prices, explore market failure such as externalities, the tragedy of the commons and public goods and the role of the government in market activity.