ECON 103C Introduction to Principles of Microeconomics and Financial Project Evaluation
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At its core, the study of economics deals with the alternatives and decisions that need to be made so as to manage scarce resources available to us. Microeconomics is that the subdivision of financial side that connects to decisions made at the separate level. During this course you'll treasure trove out how to recognise a number of economic models and analyse the effect of trade and industry forces and agents on the workings of supply and demand, and price resistance.
What will I learn?
Upon fruitful finishing point of this sequence, you'll be talented to:
- Explain the economic way of thinking.
- Recognize how specific economic mediators make balanced choices given rare resources, and give details the method to enhance the consumption of resources at hand.
- Apply the concept of marginal analysis so as to form optimal choices, and identify whether the alternatives are efficient or equitable.
- Apply basic economic models associated with production, trade, and therefore the circular flow of resources.
- Analyze and apply the mechanics of demand and provide for people, firms, and therefore the market.
- Determine equilibrium within the market under various situations that either cause movements or shifts in demand and supply.
- Apply the concept of elasticity as a measure of responsiveness to varied variables.
- Analyze how the market are often manipulated through price controls or quantity controls.
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