This course introduces the student to the fundamentals of microeconomics. It will first provide an understanding of introductory economics, economic reasoning, and microeconomic theory. Then the student will gain an understanding of the behavior of a firm, price determination and resource allocation under various market environments such as perfect competition, monopoly, monopolistic competition, and oligopoly. The student will also gain an understanding of the tools of market demand, supply and production, costs, resource or factor markets and income distribution. Overall, the course will provide students with a framework for analyzing the behavior of a firm and decision-making in the business arena.

Prerequisites: ENG 089, ENG 099, MAT 022.