This course is intended to expose students to the basic theories and concepts of microeconomics. Students will learn about a variety of market structures that exist within our economy. The course will also explore how the function of markets is influenced by the actions of sellers and buyers.

Students will be exposed to the main models of decision-making used by households and firms. Most importantly, students will be afforded opportunities to apply the economic theories from this course to solve real-world problems.

Upon successful completion of this course, learners will be able to:

•  Explain the basic principles of microeconomics
• Outline how a market functions in determining the optimal price and quantity
• Identify different types of market structures
• Discuss the implications of each type of market structure
• Outline the theories of consumer and firm behavior
• Apply the models of decision-making used by consumers and firms
• Discuss the importance of trade in a global economy
• Apply the core economic theories by using the models to understand issues and solve problems in real life.