This course provides an analysis of the basic market forces of demand and supply, and economic outcomes under different market structures such as competitive, imperfectly competitive and monopolistic markets. The labor and capital markets are also analyzed. In addition, the economics of the public sector emphasizes tax policy, externalities, monopoly power and the provision of public goods. The course examines contemporary social issues such as income distribution, poverty and the welfare system as well as global issues such as international trade and protectionism.
Also Listed As: Introductory Microeconomics
Core Courses are courses that fulfill lower-level requirements and apply to any transfer path major where they appear. Principles of Microeconomics is universal course description, which maps to specific courses on SUNY campuses. Approved SUNY Transfer Path Core Courses are guaranteed to transfer to fulfill requirements in the major and/or required cognates (not just as electives) at all SUNY campuses if the course is completed with a grade of C or better.1 You may Search for Core Course equivalents using the Transfer Navigator.
1 While a grade of C or better is guaranteed, campuses can have different policies where they accept a passing grade lower than C. Pass/Fail courses may be accepted at the discretion of the campus, but transfer is not guaranteed.