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 requires proctored exams. Details will be provided in the course syllabus.
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 toward:
MATH 117 (College Algebra in Context I) or MATH 118 (College Algebra in Context II) or MATH 141 (Calculus in Management Sciences) or MATH 155 (Calculus for Biological Scientists I) or MATH 160 (Calculus for Physical Scientists I). Credit not allowed for both ECON 202 and AREC 202 (Agricultural and Resurce Economics).
Prerequisite: College algebra.
Textbooks and Materials
Textbooks and materials can be purchased at the CSU Bookstore unless otherwise indicated.
- Micro Economy Today-Connect Access
Young is a PhD student in the Department of Economics at Colorado State University. Her research interests include public and environmental economics, in particular how they impact inequality. She is originally from South Korea where she was first introduced to economics. When Young was an exchange student at Saarland University, Germany, she was particularly impacted by German students asserting their right to study for free, even though their tuition was around €200 ($210) per semester. After that, she became more interested in societal and economic issues, leading to a PhD program in economics. Through her research, she seeks to address the problem of inequality in the world.