EC 2120 - Introduction to Microeconomics

A study of the basic tools of economic analysis and principles necessary to understand and appreciate economic relationships, business behavior, and consumer behavior regarding production, exchange, pricing , and distribution of goods and services amongst various economic agents under free market constraints. Special emphasis will be placed on the areas of supply and demand, market mechanism and equilibrium, marginal analysis, theory of firm, market failure, and applications of microeconomics theory. (4 Credits)