- Economics 201:
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Course Topics
A 5-Credit Online Course
Economics 201
- Introductory Material: Economics; economic reasoning; the economic organization of society; economic organizations and institutions (Chapters 1-3 of Colander); Why Economists Disagree; is there a new economy and, if so, does it call for a new economics?
- Basics of Supply and Demand (Chapters 4 & 5 of Colander).
- Advanced supply and demand: measurement of elasticity; theory of demand; analysis of cost including average cost, fixed cost, variable cost, and marginal cost (Chapters 6-10 of Colander).
- Price setting under perfect competition and under monopoly (Chapters 11 & 12 of Colander).
- Monopolistic competition, oligopoly, strategic pricing, real-world competition (Chapters 13 & 14 of Colander).
- Labor markets; labor market institutions; factors determining the distribution of income; nonwage income -- rent, interest, profits -- (Chapters 20 & 21 of Colander).
- Applying microeconomic theory: Agriculture (Chapter 18 of Colander).
- More applications of microeconomic theory: controlling the power of oligopolies (Chapter 16 of Colander).
- International trade; the theory of comparative advantage; (Chapter 19 of Colander)
- Roles of government in the microeconomy (Chapters 15 & 17 of Colander)
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