Mar 22, 2018  
CSU Maritime Academy 2015/16-2016/17 Catalog 
CSU Maritime Academy 2015/16-2016/17 Catalog [ARCHIVED CATALOG]

ECO 101 - Microeconomics

Class Hours: 3, Units: 3
Prerequisite(s): MTH 100 
Introduction to microeconomics and the behavior of economic agents. The economic way of thinking is now very prominent in interpreting modern life, including global business activity. Microeconomics, fundamental in analysis of business and human behavior, is preferred because it gives quantitative predictions. Students analyze the allocation of scarce resources, costs of production, supply and demand, consumer preference, elasticity, and utility theory. They study determination of prices and output in competition and monopoly; the role of public policy, and comparative economic systems, and some modern views of agent behavior.