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Principles of Microeconomics

Course Code ECON-104
Lecture hours per week 3
Lab hours per week
Course Availability: Open

This course will examine and analyse the behaviour of individual consumers and business firms as they try to deal with the fundamental problems of what commodities a society should produce, how to produce these commodities, and for whom should these commodities be produced. The course will examine how prices are established by demand and supply conditions in various types of market structures, and how firms make output decisions based on the demand for their products, and the costs of inputs to produce these products. The material covered in this course is common to microeconomic courses taught throughout Canada, the United States and most of the world.