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ECA 521: Microeconomics
3 credits
Analyze the behavior of individuals and firms under competitive conditions; price determination under perfect competition, monopoly, oligopoly, and monopolistic competition; general static equilibrium and the efficient allocation of resources. Course utilizes economic analysis to help improve the process of managerial decision-making.
Learning Goals
Students who successfully complete this course should be able to:• understand a conceptual framework to explain (i) how individual producers and consumers make choices and how their choices determine prices in a market economy, (ii) how these prices allocate scarce resources, (iii) how the price system in a market economy can fail to allocate resources efficiently, and (iv) how government can correct those market failures;;• apply this framework to real-world examples and policy issues.
*The learning goals displayed here are those for one section of this
course as offered in a recent semester, and are provided for the purpose of
information only. The exact learning goals for each course section in a
specific semester will be stated on the syllabus distributed at the start
of the semester, and may differ in wording and emphasis from those shown
here.