Hong Yao

Introduction to the ideas and tools economists use to understand human behavior constrained by scarce resources. Analytical tools introduced include supply and demand analysis, elasticities, models of perfect and imperfect competition. These tools will be used to study topics such as consumer and producer decision making, taxation, environmental quality and health care. Three hours per week. Meets General Education IIIB or IIIC (Prior to Fall 2008: IIB).

Study of supply and demand relationships under the various market classifications. Major topics include the market forms, the principles of production, costs of production, resource allocation and income distribution with some discussion of welfare economics. May not receive credit for ECON 306 and ECON 311. Prerequisites: C or better in all of the following: ECON 211, ECON 212, ECON 230, MATH 155, MATH 160 (or 201). Three hours per week.

Introduction to the ideas and tools economists use to understand human behavior constrained by scarce resources. Analytical tools introduced include supply and demand analysis, elasticities, models of perfect and imperfect competition. These tools will be used to study topics such as consumer and producer decision making, taxation, environmental quality and health care. Three hours per week. Meets General Education IIIB or IIIC (Prior to Fall 2008: IIB).