EC 220 Microeconomics (3)
Prerequisite:
MS 099, ESL 089, BU 101
Introduces
to students the concepts of scarcity and choice, and their influence in the
decision-making process of individual consumers and firms. Examines the price
mechanism (demand, supply and price) and allocation of resources; the theory of
the firm- short-run and long-run cost and revenue structure and the interaction
between markets; comparative advantage and specialization; and market failure
and externalities.
Prerequisite:
EC 220
Analysis
of the entire economy, covering such areas as national income and product (GDP)
accounting, money and the banking system, unemployment and inflation, monetary
and fiscal policy, international trade, and exchange rates and balance of
payments. FSM GDP and other national/state economic data analyzed with special
emphasis.
ECO 320 Economic Development (3)
Prerequisite:
EC 230 or permission of
Business Division
Explores the characteristics of underdeveloped economies, theories
of economic growth, and