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ECO:152Principles of Microeconomics3

This introductory microeconomics course develops tools and models to explore the behavior of individuals and firms. The course develops the demand and supply model to examine outcomes in both output and input markets explores market failures, compares behaviors in competitive and noncompetitive markets, examines the economic concept of cost, and uses comparative advantage to explain both local and international trade. Prerequisites: MTH 030 with a minimum grade of "C", or higher level math course or placement in higher level math course. Reading Proficiency.