ECO-350 Principles of Economic Theory †
Economics is the social science of choices, whether that choice is made by an individual, a firm, a government or a planet. It is a science in that economists try to explain and rationalize behavior through models and hypothesis testing. It is social science because, at the end of the day, interaction between economic agents is what drives the most interesting and engaging questions in the discipline. This course will introduce to you what it means to "think like an economist." We begin with the foundations that underlie all of economics. We then divide and explore the two broad divisions within economics: microeconomics, which deals with individual agents' behavior, and macroeconomics, which deals with broad trends of the economy. By the end of this course, the students will have the following knowledge and skills:
1. Understanding the principles of economic theory.
2. Knowledge of the fundamental principles of micro-economic and macro-economic theory.
3. Ability to make decisions that apply their knowledge of 'thinking like an economist' to a current relevant situation.
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