Week 3, Entry 1

Topics: Economics, Supply and demand, Monopoly Pages: 4 (756 words) Published: February 19, 2014

Mt. San Antonio College
Department of Business Administration

BUSC 1 B Online, CRN: 21078 fall, 2013 Principles of Economics-Macroeconomics
3 Units / 16 Weeks

Instructor: Dr. Rasool Masoomian
Office Location: Building 18A, Room 1
Office Phone and Voice Mail: (909) 274- 4922
E-mail: rmasoomian@mtsac.edu
Office Hours: MTWTh. 7:30-8:00 AM, Mondays 5:00-7:00 PM, and by appointment.Text Book

The required textbook for the course is the loose leaf version Aplia included of: “Microeconomics”, By: Roger A. Arnold, 11th Edition, South Western (Cengage Learning) Publication, 2013. Using Aplia, though optional, it is highly recommended.

Course Description and Objectives
The primary purpose of the introduction to microeconomics is to show students how the prices are determined in a market economy. Each student will be introduced to the concept of scarcity, allocation of scarce resources, demand and supply and equilibrium. Microeconomics is the study of how different markets are organized in the form of perfect competition, monopoly, monopolistic competition, and oligopoly; and how the basic problems that are involved in allocating, utilizing and distributing resources for the satisfaction of human wants, are resolved. The course includes material on how these prices and quantities affect consumers and business firms in both the product and resource markets. Both domestic and international applications will be studied. The emphasis will be on the workings of the price system, as it exists in the United States.

To be on time: Students are required to be on time for tests,...
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