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Dec 07, 2024
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ECON 202 - Principles of Microeconomics Credits: 4 Lecture Contact Hours: 4 Description: This course provides students with an introduction to the theory of consumer behavior, production theory, market structure in product and resource/factor markets and microeconomic policy.
Prerequisites: MATH 047 , or overall high school GPA of 2.8 or higher, or a minimum score of 19 ACT-Math, 25 SAT-Math, 75 CPT-Arithmetic, 28 CPT-Elementary Algebra, 260 NGA-Arithmetic or 230 NGA-Quantitative Reasoning, Algebra and Statistics. Corequisites: None. Recommended: None.
Course Category: Liberal Arts | Social Science This course counts toward Schoolcraft’s General Education Requirements. This course counts toward a Michigan Transfer Agreement General Education Requirement.
This Course is Typically Offered: Winter, Spring, Summer, Fall Check Course Availability
Course Competencies
- Summarize economics and its relationship to the other social sciences.
- Explain the basic microeconomic concept.
- Illustrate graphs in economics analysis.
- Analyze graphs in economics analysis.
- Evaluate the role of rational self-interest in microeconomic analysis.
- Analyze household behavior in product and factor markets.
- Analyze producer behavior in product and factor markets.
- Characterize the four basic market models.
- Prescribe microeconomic policy to both product and resource/factor markets.
- Appraise the situation of global poverty.
- Examine the distribution of income in the U.S.
- Investigate antitrust policy in the U.S. economy.
- Solve a variety of economic problems using mathematical methods.
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