Apr 24, 2019  
Spring 2019 Catalog 
Spring 2019 Catalog

EC 103 - Microeconomics

Credit Hours: 3

Traditional value theory on the pricing of products and factors of production to give insights into the nature of a market economy and the way it achieves both the allocation of resources and distribution of income.

Fulfills SUNY General Education -- Social Sciences.

Course Outcomes
Upon completion of this course, students will demonstrate an understanding of:

  • supply and demand principles;
  • the elasticity of demand and supply;
  • consumer choice in a market economy;
  • cost and producer choices;
  • profit maximization;
  • the four market structures;
  • government regulations;
  • positive and negative externalities;
  • resource markets;
  • competitive labor markets;
  • the land market and natural resources;
  • aging, social security, and health care; and
  • income distribution, poverty, and government policy.

F/S (C, N, S)