Economic Theory (Field 1)

EE210 Introductory Economics

3 (3-0-6)

(For non-Economics majors only; credits will not be awarded to students who are taking or have completed EE211 or EE212 or EE213 or EE214)

General principles of Microeconomics and Macroeconomics. In the Microeconomics section, topics covered include the supply of and demand for goods, consumer behavior, production and costs, structure and output of production units under perfect and imperfect competitive markets, the concept of market failures, and the role of government intervention. In the Macroeconomics section, topics covered include objectives and problems in Macroeconomics, the determination of national income, money and the banking system, introduction to fiscal and monetary policies used for economic stabilization, and the application of economic indices to analyze the economic situation. In the international Economics section, topics covered include the importance of international trade and finance, as well as the conflict between free trade and market protection.