An introductory study of the behavior of households and business firms in the market place, including households as consumers and resource suppliers, business firms as producers of goods and services and buyers of resources, market structures for outputs and inputs, role of the government, and free trade vs. protection.

By enabling us to understand the workings of the price system and the universality of trade-offs, microeconomics is the foundation of every area of economic inquiry.

Analyze contemporary economic problems in a supply and demand framework.

Demonstrate an understanding of the role of government in the economy

Solve economic problems relating to pricing, efficiency, resource allocation, and profit

maximization for firms in various market structures.