ECON 110 Principles of Economics

This course introduces economic decision-making and its implications at both individual and aggregate levels. The course begins with the central premises, concepts, and methods in the study of economics, including resources, opportunity costs, and the relevance of demand and supply. Then, at individual (micro) level, the course looks at consumption choices, production decisions, and market outcomes under varying degrees of competition. At the aggregate level, it looks at the measurements of production, unemployment, and inflation, the reasons behind economic fluctuations, and the role of fiscal and monetary policies in market-oriented economies.

OWU Units: 1.00. Crosslisting(s): None. Prerequisite(s): None. Corequisite(s): None. Antirequisite(s): None. Fee: None. Core Competency: Reason Formally and Quantitatively. Offered: Fall and Spring. Most Summers.