Introduction to types of business organizations; market models of capitalism. Basic theories of cost and production, market structure, elasticity, international trade, welfare economics and environmental issues are covered in this course.

Introduction to supply and demand, national income determination, unemployment and inflation. The overview of Classical, Keynesian and Monetary theory and policies and their application for economic stabilization and basic overview of the international financial market. Also includes an introduction to economic development, creativity and innovation, and human, social and natural capital.

Variable subject content that is determined by the academic division.

Managerial economics is concerned with the application of economic principles and methodologies to business decision making. In this course students will increase their understanding of managerial economics and learn a variety of approaches that will allow them to solve business problems relating to costs, prices, revenues, profits and competitive strategies.

The course studies the role of money and banking systems in determining the national income and output. Monetary theories and policies are emphasized.

Variable subject content that is determined by the academic division.