Course DescriptionAn introduction to the principles of economic analysis, economic institutions, and issues of economic policy, this course emphasizes allocation of resources and distribution of income through the price system. Instruction covers the behavior of firms and individuals and their interactions in the marketplace, gains from trade, and the determination of prices. Different market structures are examined, including perfect and imperfect competition and monopoly. Issues addressed include: Do markets allocate resources efficiently? Under what conditions is government intervention justified and what are the potential benefits? Basic concepts and analytical tools studied are applied to current events and policy issues whenever possible. Transferable for UC credit.
Course OutlineThe course will provide a solid introduction to microeconomic theory and logic.
Applies Towards the Following Certificates
- Study Abroad at UCLA Program : Required