ECON-252 Microeconomics

3 cr.

Introduces microeconomic theory and explores market allocation of resources; supply and demand; theory of marginal analysis; market types; market failure; regulation and antitrust; economic growth and innovation; business finance; economic globalization; and cultures of capitalism. Includes the history of economic development, comparisons of the major economic systems, price controls, price elasticity of demand, the tax structure, national income accounting, the distribution of income, social security, problems with measuring income, demographic effects on the economy, the cost structure of firms, perfect competition, monopoly, monopolistic competition, oligopoly, economies of scale, monopoly regulation, labor markets and an examination of the economy’s effect on the environment. The application of economics to the financial markets is stressed.
[NM Common Course Number ECON 2123, Area IV; Behavioral/Social Science Core]
Prerequisites: RDNG-096, ENGL-099 and MATH-096 or appropriate Reading, English and Math Accuplacer Scores.
Offered: Fall, Spring
Fee - Course/Program (F) $13.00