Basic Economics (ECO-105)
This is a one-semester survey course on overall macro- and micro-economic issues. On the micro side, topics will include the operations of a market economy using the fundamental principles of supply and demand, production costs and basic market models of competition, monopolistic competition, oligopoly and monopoly. On the macro side, topics will include the determination of national income, money and the financial system, the interaction of monetary and fiscal policies to accomplish economic objectives. Students will be able to understand the overall functioning of the economy.