University of Kentucky 3 credits Economics
ECO 301 is an undergraduate course in microeconomic theory designed for students who enjoy economics but are NOT planning on selecting a major in economics. We will study the behavior of individual decision makers: households, firms, resource owners and the interaction of such individual economic units in markets. We will study the role that prices play in guiding the allocation of resources in a market economy. To reinforce students’ understanding of microeconomic theory, and also to demonstrate the relevance of particular theoretical concepts, we will include numerous real world situations as we apply each topic. Students who have already taken ECO 401 are not allowed to take ECO 301. Prereq: ECO 201 and ECO 202 or the equivalent.
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