ECO 101 Priciples of Economics

This is an introductory course to economic literacy. Students will be exposed to topics such as consumer behavior, economic production and cost analysis as well as the way in which firms determine their prices in a variety of market structures. We will also take a macro view of the economy to understand national income accounting, business cycles, the banking system and money creation. Stabilizing policies such as deficit spending and taxation will be discussed at length. There is also a global aspect in the course that examines the economic impact of international trade in an open economy. This course is offered to students at large whose majors are not in Accounting, Business, or Economics. Students in the Business School must take both ECO105 and ECO106 to satisfy their program requirement. (L10)