Title
ECON2222 - Microeconomics
Description
Description
Microeconomics stresses the concepts of scarcity, production possibilities, supply and demand curves, elastic and inelastic goods and services, competition, monopolies, oligopolies, poverty and income distribution in the United States. In general, microeconomics examines the functioning of individual industries and the behavior of the individual.
API ID
Credits
3 (3/0/0)
Competencies
- Explain supply and demand and their applications.
- Measure the price elasticity of demand for various goods.
- Explain household behavior and consumer choice.
- Explain the behavior of profit-maximizing firms.
- Interpret short-run costs and output decisions.
- Interpret long-run costs and output decisions.
- Compare the four types of firms - perfectly competitive, monopolistically competitive, oligopolies and monopolies.
- Critique monopolies and antitrust policy.
- Explain a general equilibrium and the efficiency of perfect competition.
- Evaluate externalities and their impact on environmental economics.
Goal Areas
2. Critical Thinking
5. History and the Social and Behavioral Sciences
9. Ethical and Civic Responsibility
Degrees that use this course
Degrees that use this course
Degree:
Associate of Applied Science (AAS)
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Degree:
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Degree:
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Credits:
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Degree:
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Location:
Fergus Falls Campus
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Degree:
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Location:
Fergus Falls Campus
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Credits:
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Degree:
Associate of Science (AS)
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Fergus Falls Campus
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Degree:
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Degree:
Associate of Applied Science (AAS)
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Degree:
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Location:
Online
Credits:
60
Degree:
Associate of Applied Science (AAS)
Human resources programs prepare students to provide support to companies and individual employees in the area of human resources. Associate...
Location:
Online
Credits:
60
Degree:
Associate of Science (AS)
The Sport Management program is designed to provide theoretical and practical preparation for sport management leaders in the business of...
Location:
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Credits:
60
