2022-2023 Academic Catalog 
    
    Dec 05, 2022  
2022-2023 Academic Catalog

ECON 202 - Principles of Economics-MICRO

3 CR
A study of supply and demand analysis; costs of production; the structure of American industry; resource pricing; and contemporary microeconomic issues that will include labor economics, urban and rural problems, income distribution, antitrust problems, and international economic issues. Lab Fee

Requisites: Next Gen ACCUPLACER® reading score of 244, or at least a grade of C in TSRE 55 .
General Education Requirement: Critical Thinking - General Education Core
Michigan Transfer Agreement Requirement: Social Sciences
Course Learning Outcomes:
  1. Recognize the importance of economic models.
  2. Analyze the opportunity cost and how this concept can be applied.
  3. Use supply and demand analysis to predict changes in price/quantities in markets.
  4. Determine how elasticity affects consumer demand and firms’ production decisions.
  5. Apply the relationship between production and costs to determine the profit-maximizing output of firms in different market types.