Course Description

Economics 020 Introduction to Economics

The problem of scarcity and its implications, choice; opportunity cost, specialization and exchange; supply and demand; economic choices of households and firms; competition and monopoly; resource markets; public policy; income distribution; national income; aggregate supply and aggregate demand; inflation, unemployment and interest rates; money and monetary institutions; balance of payments; and exchange rates.

Antirequisite: Economics 021.
3 lecture hours or 2 lecture hours and 1 tutorial hour.
(Brescia, Huron, King's)


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