2019-2020 Undergraduate Academic Catalog

CECON 2101 Microeconomics

Microeconomics examines the economic behavior of individual actors - individuals, households, businesses, nonprofit organizations, governments - in order to understand choice in the face of scarcity and the allocation consequences of these choices. This examination is set in the broader context of concern for human well-being. The course covers the basic model of the competitive market, as well as alternative models of market power. (Class – 3 hours, Lab – 1 hour, Course hours – 4; Credits – 3) The lab component is 25% of the course grade and attendance is required. The lab is scheduled on a day that is different from the days that the class meets.