ECON 103: Contemporary Microeconomic Principles

ECON 103-KD1: Microeconomic Principles
(Fall 2020)

Online

Section Information for Fall 2020

At the end of this course, students should understand the basic principles of economics as a social science and such concepts as opportunity cost, scarcity, comparative advantage, markets and the laws of supply and demand, specialization and the division of labor, trade, and self-interest. Attention is given to the behavior of consumers who maximize utility subject to an income constraint and firms which maximize profits subject to market structures.

The course is video-based and each weekly video lecture series is followed by a series of questions. Every week there is a mandatory reading response due before the scheduled lecture, with semi-regular homework assignments and two exams. Active learning requires more from the student so be prepared—the class will move quickly.

Reading response form available here.

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Course Information from the University Catalog

Credits: 3

Introduces microeconomics in the context of current problems. Explores how market mechanism allocates scarce resources among competing uses; uses supply, demand, production, and distribution theory to analyze problems. Limited to three attempts.
Mason Core: Social/Behavioral Sciences
Schedule Type: Lecture
Grading:
This course is graded on the Undergraduate Regular scale.

The University Catalog is the authoritative source for information on courses. The Schedule of Classes is the authoritative source for information on classes scheduled for this semester. See the Schedule for the most up-to-date information and see Patriot web to register for classes.