ECO 1000

PRINCIPLES OF ECONOMICS

This course introduces basic principles of economics to analyze how economic decision to allocate resources are made at both individual and national levels. Topics covered include opportunity costs, specialization and trade, economic efficiency using marginal benefit and marginal cost approach, economic systems and importance of property rights, competition, individual responsibility, self-interest and incentive, role of product and resource markets, macroeconomic objectives, indicators and policies to influence national and global economic outcomes.

Units: 3.0