Introduction to decision making by households, firms, and governments, and resulting allocation of resources through markets.
Principles of Microeconomics is an introduction to decision making by households, firms, and government, and the resulting allocation of resources through markets. This course is designed to introduce you to the subject of economics as it pertains to the behavior of consumers, firms, industries and society, and to their desires to get the most from a limited availability of resources.
By the end of the course, you should be able to:
• identify the basic issues of microeconomics, and state key economic facts and examples from around the world;
• explain the basic methods of microeconomics, including basic microeconomic principles, and interpret how they are used to build theories of economic behavior;
• apply these principles, theories and models to critically analyze and explain economic situations encountered in the real world;
• evaluate how economics can help you as a local and global citizen contribute to the making of appropriate public policy.
This course requires the use of electronic proctoring through ProctorU, please see www.online.colostate.edu/current-students/proctoring for detailed instructions. For students requiring accommodations, please contact Resources for Disabled Students; for consideration of exceptions outside the scope of RDS, please contact the University Testing Center
This course is approved for Validation by Education Experience (VEE) by the Society of Actuaries (SOA).
This course meets the All-University Core Curriculum (AUCC) requirements for Social/Behavioral Sciences (Category 3C) and is approved under gtPathways in the content area of Economic or Political Systems (GT-SS1).
This course can be applied towards:
MATH 117 (College Algebra in Context I) or MATH 118 (College Algebra in Context II). Credit not allowed for both ECON 202 and AREC 202 (Agricultural and Resource Economics).
Prerequisite: College algebra.
Textbook and Materials
Textbooks and materials can be purchased at the CSU Bookstore unless otherwise indicated.
- The Micro Economy Today*, 14th Ed.
Schiller, Bradley and Gebhardt, Karen
*Choose one of the following:
(1) ISBN 978-1259961106 (paper text + Connect access) or
(2) ISBN 978-1259957567 (Connect access, also can be purchased directly from the Connect website)
Students are, at a minimum, required to have access to Connect which includes an eText. Students can choose to purchase a paper text as well.
Ryan Levitt is a PhD candidate at Colorado State University. In addition to teaching intermediate microeconomics, he has taught environmental economics and econometrics. His research interests include looking at the economic outcomes of natural disasters and issues related to climate change.