Course at a Glance
The principles course is meant to introduce students to the key terminology, core concepts, and fundamental tools of economics. While Econ 110 is a prerequisite for application to the business school, it provides students with skills that are useful for far more than business saavy. The ultimate goal is for students to be able to understand the workings of a market economy, enabling them to understand changing market conditions, to make informed choices about their economic future, and to evaluate economic proposals of politicians.
We will do this by developing simple yet powerful tools of analysis. About two-thirds of the class focuses on microeconomics, examining the behavior of an individual consumer, firm, or market. The remainder is spent on macroeconomics, which considers the sum of all these individual choices (thus building on the micro concepts).
From their experience in this class, students should become able to: