EC1140 - Microeconomics
This is a course in Microeconomics that is intended to prepare the student to take additional courses in economics which make use of Microeconomics tools of analysis. In addition, the subject matter of this course will help in understanding some of the concepts, problems, and arguments that are presented in other courses or in the public press. When new projects or changes are announced by the government or private sector, you will have a set of tools of analysis that will allow you to be more informed as to what is involved in the decision making process; your tool kit will allow you to see some implications that may not be readily apparent to the general public. This will place you in a better position to ask relevant questions, whether you like or dislike the initiative. The course will cover the following topics: Scarcity and Opportunity Cost, Demand and Supply, Elasticity, Household Demand, Marginal Utility, Indifference Curves, Production Functions, Short-Run and Long-Run Cost Functions, Perfect competition in the short-run and in the long-run monopoly.
Prerequisite(s): Preferably High School Level III Academic Mathematics or Advanced Mathematics and acceptable score on Mathematics Placement Test or MUN Mathematics 1090.
This course is offered in the following programs:
Comprehensive Arts & Science (CAS) Transfer: College-University