ECON 200 - Principles of Microeconomics

Units: 3 ; Breadth Area: GE-D1-2
Develop basic theories of individual economic agents - the consumer and the firm - and how their behavior is interwoven in the marketplace. Emphasis on the use of microeconomic theory to evaluate various economic policies, including taxation, minimum wages, and rent control.

Strongly Recommended Preparation: Intermediate Algebra.
Possible Instructional Methods: Entirely On-ground, or Entirely Online.
Grading: A-F grading only.
Breadth Area(s) Satisfied: GE-D1-2 - Lower Division Social Sciences
Course Typically Offered: Fall & Spring

Student Learning Outcomes - Upon successful completion of this course students will be able to:

Understand how households (demand) and businesses (supply) interact in various market structures to determine price and quantity of a good produce;
Identify how different changes in the determinants of supply and demand affect price and quantity in a model of perfect competition;
Apply the model of perfect competition to predict the price, output, and welfare implications of several public policy interventions, including taxation, minimum wages, and rent control;
Interpret the meaning of marginal revenue and marginal cost and their relevance for firm profitability;
Understand the major characteristics of different market structures and the implications for the behavior of producers.

D1-2. Lower-division Social Science Electives Learning Outcomes

specify how social, political, economic, and environmental systems and/or behavior are interwoven;
explain how humans individually and collectively relate to relevant sociocultural, political, economic, and/or environmental systems-how they produce, resist, and transform them;
discuss and debate issues from the course’s disciplinary perspective in a variety of cultural, historical, contemporary, and/or potential future contexts; and
explore principles, methodologies, value systems, and ethics employed in social scientific inquiry.