Students examine the interactions between individuals and firms in various types of markets. Topics include a definition of economics; demand and supply analysis; consumer theory; production and cost; market structure including perfect competition, monopoly, monopolistic competition, and oligopoly; market efficiency and market failure; resource markets; and international trade. Prerequisite: Foundations of Mathematics 11 or Pre-calculus Math 11 with a minimum B OR MATH 0510 or MATH 0530 or equivalent. Completion of one Foundations of Mathematics 12, or Pre-calculus 12 is highly recommended Note: Students cannot receive credit for both ECON 1900 and ECON 1901
Students examine the interactions between individuals and firms in various types of markets. Topics include a definition of economics; demand and supply analysis; consumer theory; production and cost; market structure including perfect competition, monopoly, monopolistic competition, and oligopoly; market efficiency and market failure; resource markets; and international trade. Prerequisite: Foundations of Mathematics 11 or Pre-calculus Math 11 with a minimum B OR MATH 0510 or MATH 0530 or equivalent. Completion of one Foundations of Mathematics 12, or Pre-calculus 12 is highly recommended Note: Students cannot receive credit for both ECON 1900 and ECON 1901
