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NATIONAL UNIVERSITY ECON 203 – Principles of Microeconomics JANUARY 2011 Instructor: Jack Russ (858) 254-9364 (cell) (858) 674-6108 (office) [email protected] [email protected] Text: MICROECONOMICS by Gwartney, Stroup, Sobel and MacPherson, Thomson/ Southwestern, 13 th Edition, 2011 COURSE DESCRIPTION : An introduction to the economic principles of free enterprise supply and demand, private and social implications of profit maximization, market structure and resource markets. Microeconomics is concerned primarily with the market activities of individual economic units such as consumers, resource owners and business firms. It is concerned with the flow of goods and services from business firms to consumers, the composition of the flow and the process for establishing the relative prices of the component parts of the flow. Microeconomics is also knows as the Theory of the Firm or Price Theory. It uses quantitative applications to determine optimal levels of output, resource allocation and capacity planning. It also provides tools for the evaluation of public policy. Capitalism thrives on honesty and transparency and personal trust is the currency of business . Ethics and the influence of political, social, legal and regulatory, environmental and technological issues will be discussed throughout the course. It is recommended that you get into the life-long habit of reading The Wall Street Journal on a regular basis. From time-to-time, articles from the Journal will be brought to the attention of the class and discussed. These articles are to be considered required reading. A multipurpose calculator; that is, one with more than the standard four functions (add, subtract, multiply and divide) will be needed.
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COURSE GOALS: Upon successful completion of this course, the student will be able to:
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