HS 245F — Economics I

Meets for one-half semester and yields half-course credit.

Introduces basic microeconomic concepts, including market analysis. This course demonstrates the basic problem that resources are scarce, and allows a consideration of various ways to deal with scarcity. Markets are also of direct relevance to managers. A manager, whether for-profit or nonprofit, must operate at least partially in a market environment. The market sets the constraints and provides some of the opportunities for the organization to pursue its goals. The course considers the behavior of consumers and organizations and examines how they interact with each other. Usually offered every year.