Sections: Principles of MicroEconomics (Autumn Semester 2017 ECON-105-NA)

ECON - Economics 105-NA Principles of MicroEconomics
ECON-105 Principles of Microeconomics 3 credit hours, 3 contact hours (3 hours lecture and 0 hours lab). Prerequisite: None. Course is graded A-F. Dealing with fundamentals of microeconomics, this course is designed to give the student a basic understanding of individual firms, and how they allocate their resources, price goods and services, and the factors of production in our economic system. How individual firms organize themselves and meet the competition, and behaviors of customers and supplies as well as government relative to supply and demand will be discussed. Elasticity and substitutions along with total revenue, total costs, marginal revenue, marginal costs, and profit analysis are researched. ECON-105 Principles of Microeconomics replaces BMT-2025 Microeconomics in the Quarter system. ECON-105 meets the Ohio Transfer Module standards for TMSBS and meets the Ohio Transfer Assurance Guide standards for OSS004.

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