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Social Science
EC 201 - Microeconomics
- Students will understand the basic social role of the economy.
- Students will be able to use general models and tools of economic analysis to study static and dynamic elements of the American Economy.
- Students will understand how scarcity and opportunity cost constrain our resource, production and consumption choices.
- Students will recognize the nature of the mixed economy and the division of responsibility between the private and public sectors.
- Students will be able to apply marginal benefit-marginal cost analysis to making personal and professional decisions.
- Students will be able to distinguish between perfect and imperfect competition, including an understanding of the social consequences of both.
- Students will see how product and resource markets are similar and are different.
- Students will be able to analyze the dynamic nature of free markets over time.
- Students will be able to understand basic economic topics as presented in newspapers, magazines and other media
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