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ECO 2030 PRIN ECON-PRICE THEORY

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    Always Do the Reading

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    Great Intro to the Subject

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    • Profile picture
    Sep 01, 2017
    | Would highly recommend.

    Not too easy. Not too difficult.

    Course Overview:

    In my opinion, an economics course is extremely important for everyone to take. It is useful to understand how our economy works, why people make certain buying decisions (maybe only for a short period of time) and why firms hire and produce more in a given period. If a person has taken a course in economics and he goes to the store and notices that milk has increased in price, it may occur to him that the total quantity demanded for milk may have increased... or maybe it was the demand curve, or, he may ask himself: has the supply decreased? An economic course will allow a person to think at the margin. An example of this is that if a person buys a good, he will think about the further implications of buying that single good once more. If he eats one slice of pizza and he is still hungry after, he may eat another. After the second slice of pizza, at four dollars a slice, his willingness to pay decreases for the third slice; this is also an example of marginal utility. The information that the course provided to me has stuck with me in decisions that I have made for my business and personal finances, and it has affected the timeliness of some of my purchases and investments.

    Course highlights:

    I learned that the flow of currency, government policy, and trade affects the price, quantity demanded, quantity supplied, and total marginal utility of a product, good, or service. Our resources are limited and scarce, and there is a lot of science and statistics behind how the human race utilizes those resources that shape the way goods and services are produced and sold.

    Hours per week:

    9-11 hours

    Advice for students:

    There are so many free resources out there today for students and anyone to utilize in order to further their own education. Learn consistently inside and outside of the classroom. Engage in your studies, read books written by informed professionals, take courses with professors that you can relate to, read your professor's research. Learning should last forever, and a class has the potential to ignite the fire that sparks that intellectual curiosity and the everlasting hunger to learn more about a particular subject.

    • Summer 2017
    • PeterA.Groothuis
    • Yes
    • Great Intro to the Subject Always Do the Reading Great Discussions

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