Principles of Microeconomics

This course is an introduction to economic concepts, principles, and microeconomic analysis. Topics covered include the notions of scarcity and opportunity cost, the analysis of market equilibrium using the framework of demand and supply, the study of consumers’ behavior in terms of consumption expenditure, the examination of the production process as well as several costs of production, and output decisions in different market structures. The passing grade of this course for Economics students is “C.“Other students should check with their Department’s administration concerning their passing grade.