ECON 2010U – Microeconomics

As a first course in economics, microeconomics introduces the student to principles such as scarcity, opportunity cost, diminishing returns, elasticity, industrial organization, economies to scale, and concentration. The course begins with an introduction to the market and price determination. The course reviews the cost structure of the firm in both the long and short run. Price and quantity decisions for firms in various competitive situations are discussed. Canada’s Competition Act is examined. The course also analyzes the markets for factors of production.
Credit hours: 3
Lecture hours: 2
Tutorial hours: 1.5
Credit restriction(s): BUSI 2050U