SYLLABUS 2011 Econ 111 - Economics 111 Fall 2011 Principles...

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Economics 111- Fall 2011 Principles of Microeconomics Instructor: Mario B. Muzzi Office/hr: CO 426/10:30-11:30 mwf Email: [email protected] Principles of Microeconomics -Syllabus This course provides an introduction to economic analysis. It is intended to show you how an economist thinks about societal issues. Economics is a very powerful theory of human behavior and interaction. It has been applied to issues ranging from those usually considered the proper realm of economics, such as what determines the prices of consumer goods and what is the relationship between government deficits and the rate of inflation, to such things as how people vote, how much education they acquire, and how many children they have. Microeconomics, the subject of this course, focuses on how individuals and firms make decisions about what to consume, produce, buy and sell, and how they interact with other consumers, producers, buyers and sellers in the marketplace. It also addresses the proper role of government in the market e.g., regulation, antitrust, taxation, poverty and welfare policy. The first half of this course will be dedicated to the basics: opportunity cost, the gains from trade, supply and demand, and the costs of production. In addition, we will cover certain
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