Course: 50:220:102. Microeconomics Principles (3)
Section: W3:98295, Online-Sakai [12/21/12-1/17/13]
Instructor: Noha Emara, Ph.D.
The course objective is to provide the student with an introduction to microeconomics. Topics include the market system, supply and demand, cost, competition, monopoly, oligopoly, factor markets, and public goods. After completing the course, the student will be familiar with how an economist thinks. Students will be able to (i) apply the supply and demand model graphically and numerically; (ii) evaluate the opportunity cost of an economic decision; (iii) describe the model of the firm and calculate how changes in input prices, product demand and market structure affect firm output, prices and profits; and (iv) analyze the implications of operating under different market structures and the basic implications of efficiency and failures of the market system. Students will demonstrate this through discussion and analysis of outside reading, through solving numerical problems, Coursework is meant to instill an appreciation of both the power and limits of economic analysis and constitute a framework for future courses in business curriculum.