Markets, applications of supply and demand analysis, the theory of consumer behaviour and the impact of government regulations and intervention on market performance. Other topics include the theory of the firm under perfect competition, monopoly, and monopolistic competition; the principles of oligopoly; productive efficiency; the distribution of income, the role of unions and factor market performance.
An introductory course for students who may wish to take subsequent courses in Economics.
Prerequisite: B or better in Principles of Math 11 or Applications of Math 12, or MATH 051, or equivalent; Principles of Math 12 highly recommended