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Microeconomics is concerned with the behavior of buyers and sellers, how they interact with each other in markets, and how this interaction leads to the allocation of scarce resources and the distribution of output. This course introduces students to microeconomic principles with a focus on consumer behavior, firm costs and the prices that result from different market structures.

Microeconomics is concerned with the behavior of buyers and sellers, how they interact with each other in markets, and how this interaction leads to the allocation of scarce resources and the distribution of output. This course introduces students to microeconomic principles with a focus on consumer behavior, firm costs and the prices that result from different market structures.

Fundamental economic ideas and the operation of the economy on a national scale. Production, distribution and consumption of goods and services, the exchange process, the role of government, the national income and its distribution, GDP, consumption function, savings function, investment spending, the multiplier principle and the influence of government spending on income and output. Analysis of monetary policy, including the banking system and the Federal Reserve System.

Fundamental economic ideas and the operation of the economy on a national scale. Production, distribution and consumption of goods and services, the exchange process, the role of government, the national income and its distribution, GDP, consumption function, savings function, investment spending, the multiplier principle and the influence of government spending on income and output. Analysis of monetary policy, including the banking system and the Federal Reserve System.

Economic and social problems relating to the labor management field. Development and functions of labor and employer organizations, regulatory law and protective labor legislation, collective bargaining and dispute settlement, the laws on wages, hours, working conditions, social security, elimination of discrimination and health hazards (College Catalog, 2014-15).

Economic and social problems relating to the labor management field. Development and functions of labor and employer organizations, regulatory law and protective labor legislation, collective bargaining and dispute settlement, the laws on wages, hours, working conditions, social security, elimination of discrimination and health hazards (College Catalog, 2014-15).

Fundamental economic ideas and the operation of the economy on a national scale. Production, distribution and consumption of goods and services, the exchange process, the role of government, the national income and its distribution, GDP, consumption function, savings function, investment spending, the multiplier principle and the influence of government spending on income and output. Analysis of monetary policy including the banking system and the Federal Reserve System (College Catalog 2014-15).

Fundamental economic ideas and the operation of the economy on a national scale. Production, distribution and consumption of goods and services, the exchange process, the role of government, the national income and its distribution, GDP, consumption function, savings function, investment spending, the multiplier principle and the influence of government spending on income and output. Analysis of monetary policy including the banking system and the Federal Reserve System (College Catalog 2014-15).