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Business and Administrative Studies
Course Description
ECON-1022   Microeconomics  

The course examines the role of an economic system, and how the forces of demand and supply move a market towards equilibrium. Emphasis is placed on the role of prices in allocating resources, with comparisons drawn between the market system and alternative systems. The course also examines a firm's revenues and costs, and identifies how profits are measured. It then reviews the four market structures, and how price is determined within each of these structures.

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