ECN 2302 Microeconomics

Analysis of the behavior of individual economic agents, including consumer behavior and demand, producer behavior and supply, price and output decisions by firms under various market structures, factor markets, market failures, and international trade. Market theory includes demand, supply, price/quantity equilibrium, and changes in equilibrium.  Elasticity of demand.  Efficiency, distribution and production costs.  Market structures include Pure Competition and Monopoly, and an evaluation of their effects on society taking into account both efficiency and distribution.  Resource markets include wage determination.