Students are able to - demonstrate an understanding, usage and application of basic economic principles and basic environmental economics.
- describe and apply the methods for analyzing consumer behavior through demand and supply, elasticity and marginal utility.
- understand the role of alternative property rights in resource allocation.
- analyse the effects of economic policies (such as changing taxation levels) on microeconomic behavior.
Common topics are supply and demand, elasticity, opportunity cost, market equilibrium, market failure inducing environmental problems, forms of competition, and profit maximization. |