EC 591 Economic and Finance
This course introduces microeconomics, examining how individual household choices are made and how market decisions are made. The students examine the behavior of business firms in competitive and non-competitive markets in short-term and long-term situations. The functioning of labor and capital markets is explored. The students analyze the role of the entrepreneur in combining land, labor, and capital to produce output. In the second part of the seminar, macroeconomics, the students examine the behavior of the economy as a whole. Specifically, they examine the components of gross domestic product, unemployment, inflation, national income, the money supply, and economic growth.
Prerequisite
AC 460 or equivalent
Corequisite
MG 591