Introduces economic theory and practice, specifically the economic system of supply and demand. Includes the effect this system has on business and individuals, especially in the making of decisions. Analyzes the foundations of economic reasoning and central key terms, laws, and concepts of economic analysis and understanding.
Investigate resource scarcity as the central economic problem.
Analyze how supply and demand impact the market for goods and services.
Explain how supply and demand elasticity affects consumer decisions.
Discuss how perfectly competitive markets affect the decision-making process in business firms.
Differentiate among a monopoly, monopolistic competition, and an oligopoly.
Examine the market for resources as it pertains to business firms.
Critique the theories of economic regulation.
Interpret poverty, pollution, and public versus private goods.
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Textbook(s)
Publisher: Cengage Learning (2015)
Author: McEachern, W. A.
ISBN: 978-1-28-542354-8
* Disclaimer: Textbooks listed are based on the last open revision of the course. Prior revisions and future revisions may use different textbooks. To verify textbook information, view the course syllabus or contact the AU Bookstore at [email protected]