EC 104 (004) INTRODUCTION TO MICROECONOMICS

COURSE DESCRIPTION

This introductory course provides students with a basic understanding of the market system in advanced capitalist economies. It examines the logic of constrained choice with a focus on the economic behavior of individuals and organizations and how they interact in markets. The course examines the conditions under which markets allocate resources efficiently and identifies causes of market failure and the appropriate government response. After a theoretical analysis of the determinants and the interaction of supply and demand under competitive conditions, alternative market structures will be investigated, including monopolistic and oligopolistic forms. Important contemporary issues analyzed include technological change, international trade, and environmental economics.

TEXT: Schiller, 2012. The Micro Economy Today, 13^th ed., New York, McGraw-Hill.

Class meets T, Th, 9.40-11, Bolton 100

Enrolled students can access all course materials through the course web site on Blackboard https://learn.skidmore.edu/webapps/login/