EC 252 - Principles of Microeconomics

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Microeconomics is the study of how individuals and firms make choices and how these choices interact. The course begins by introducing the assumptions and core principles of economics. This will prepare students to build basic models of consumer and producer behavior. We will analyze this behavior in a perfectly competitive market structure. The model will then be extended to incorporate a variety of instances of market failure including imperfectly competitive markets, externalities, and public goods. Students will use the skills learned to analyze current social issues from an economic perspective.