Title

ECON2222 - Microeconomics

API ID

Credits

3 (3/0/0)

Description

Microeconomics stresses the concepts of scarcity, production possibilities, supply and demand curves, elastic and inelastic goods and services, competition, monopolies, oligopolies, poverty and income distribution in the United States. In general, microeconomics examines the functioning of individual industries and the behavior of the individual.

Competencies

  1. Explain supply and demand and their applications.
  2. Measure the price elasticity of demand for various goods.
  3. Explain household behavior and consumer choice.
  4. Explain the behavior of profit-maximizing firms.
  5. Interpret short-run costs and output decisions.
  6. Interpret long-run costs and output decisions.
  7. Compare the four types of firms - perfectly competitive, monopolistically competitive, oligopolies and monopolies.
  8. Critique monopolies and antitrust policy.
  9. Explain a general equilibrium and the efficiency of perfect competition.
  10. Evaluate externalities and their impact on environmental economics.

Goal Areas

2. Critical Thinking
5. History and the Social and Behavioral Sciences
9. Ethical and Civic Responsibility
Degrees that use this course

Degrees that use this course

Accounting
Degree:
Associate of Applied Science (AAS)
Location:
Moorhead Campus
Online
Credits:
60
Agribusiness
Degree:
Associate of Applied Science (AAS)
Location:
Moorhead Campus
Online
Credits:
60
Business
Degree:
Associate of Applied Science (AAS)
Location:
Fergus Falls Campus
Moorhead Campus
Online
Credits:
60
Business Administration
Degree:
Diploma
Location:
Fergus Falls Campus
Detroit Lakes Campus
Moorhead Campus
Online
Credits:
33
Digital Marketing
Degree:
Associate of Applied Science (AAS)
Location:
Online
Credits:
60
Human Resources
Degree:
Associate of Applied Science (AAS)
Location:
Online
Credits:
60
Human Resources
Degree:
Associate of Science (AS)
Location:
Online
Credits:
60
Sport Management
Degree:
Associate of Science (AS)
Location:
Fergus Falls Campus
Credits:
60