ECON 110(F,S) Principles of Microeconomics (Q)

This course is an introduction to the study of the forces of supply and demand that determine prices and the allocation of resources in markets for goods and services, markets for labor, and markets for natural resources. The focus is on how and why markets work, why they may fail to work, and the policy implications of both their successes and failures. The course focuses on developing the basic tools of microeconomic analysis and then applying those tools to topics of popular or policy interest such as minimum wage legislation, pollution control, competition policy, international trade policy, discrimination, tax policy, and the role of government in a market economy. This course is required of Economics majors and highly recommended for those non-majors interested in Environmental Studies, Women's and Gender Studies and Political Economy. The department recommends that students follow this course with Principles of Macroeconomics or with a lower-level elective that has Economics 110 as its prerequisite. Students may alternatively proceed directly to Intermediate Microeconomics after taking this introductory course. Format: lecture/discussion. Requirements: problem sets, quizzes, short essays, midterm, final exam. No prerequisites. Enrollment limit: 40 (expected: 40).