Spring,
Fall
4
A survey of economic analysis and institutions combining economic theory with a discussion of applications to the U. S. economic system for majors and non-majors. The course will include an introduction to both microeconomics and macroeconomics. Microeconomics: Study of the behavior of consumers and firms in competitive and noncompetitive markets, and the consequences of this behavior for resource allocation and income distribution. Consideration of government’s role in competitive and noncompetitive markets. Macroeconomics: Study of the determination of the domestic levels of income, output, employment and prices; study of international trade and finance. Consideration of economic growth and international trade.