Principles of MicroeconomicsCourse ID: ECON 201
School:Business, Quinlan School of
Credit Hours: 3
Course DescriptionRequirement: ANTH 100, PLSC 102, PSYC 100 or SOCL 101 for students admitted to Loyola University for Fall 2012 or later. No requirement for students admitted to Loyola prior to Fall 2012 or those with a declared major or minor in the Department of Anthropology, Department of Criminal Justice, Department of Economics, Department of Psychology, Department of Political Science, the Department of Sociology, Human Services or the School of Nursing. This course is an introduction to demand and supply, consumer choice, price analysis in alternative industrial organizations, and the distribution of income. Students will be able to think critically about price formation in different market structures, and how prices, household incomes and income distribution in a diverse society are determined with interpretations based on the concepts of opportunity costs and decision making under uncertainty.
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