Texas A&M University 3 credits ECON
Analysis of how consumers and firms make decisions under scarcity and how their interactions determine prices and resource allocation; develops the theoretical foundations of demand, supply and market equilibrium; examines consumer choice and utility maximization, firm production and cost minimization, and profit-maximizing behavior under competition; explores outcomes when markets depart from perfect competition, including monopoly and oligopoly; emphasizes the efficiency and distributional consequences of market structures. Prerequisite: Grade of C or better in ECON 202; grade of C or better in MATH 142, MATH 151 or MATH 171; also taught at Galveston campus.
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