ECON 70041 - (was 7100) Foundations of Business

One credit hours.

Was ECON 7100. This course provides the foundations necessary for students planning to take more advanced MBA level courses. This course covers two main topics. The first topic is the market, where we learn how to predict and explain behavior in the marketplace, explain the determination of prices, quantities, and allocation of resources, and calculate and explain elasticity measures. The second topic is the firm, where we learn how to explain and describe the economic costs and profit-maximizing decision-making for a firm.