ECN 110 - Principles of Economics

3 credits (PREREQUISITES: MATH 097 or equivalent)

This course provides an introduction to macroeconomic and microeconomic fundamental principles. Supply and demand, market equilibrium, scarcity and choice, factors of production, unemployment and inflation, gross domestic product and its relationship to business cycles will be covered. Price ceilings, price floors, costs and profit maximization and market structures will also be stressed. Students will understand the influence of economic principles on the domestic and global business environment. G/US G/W (F, Sp)