Microeconomics

Course Content from McGraw-Hill

Course Number: ECON102

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Microeconomics continues the lessons begun with Macroeconomics by analyzing the manner in which markets resolve the problem posed by a scarcity of resources. This online course constructs a model of efficiency and analyzes it through the topics of demand, supply, production, distribution, consumer choice, behavior of the firm, and market structure. Considerations of market failures and the role of government in a market-driven society complete the analysis. Other topics in the microeconomics include international trade and finance.

This Course Now Includes a FREE eTextBook

Buy the course for only $59 and get a copy of "Principles of Microeconomics " at no additional cost

By including eTextbooks in our courses, StraighterLine is helping students achieve their academic goals by providing best-in-class tools to make studying more convenient.

etextbook included

college credits

Self Paced

Economics

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Content Rating

10/29/14 by cheema.d

Content Rating	100 100
Overall Rating	100 100

10/29/14 by cheema.d

Content Rating	100 100
Overall Rating	100 100

10/27/14 by millerdarrenj

Content Rating	60 100
Overall Rating	60 100

10/27/14 by millerdarrenj

Content Rating	60 100
Overall Rating	60 100

10/23/14 by dyoneal

It not only cost effective, but you really can learn

Content Rating	100 100
Overall Rating	100 100

10/23/14 by dyoneal

It not only cost effective, but you really can learn

Content Rating	100 100
Overall Rating	100 100

10/5/14 by tiffany.p

This is a great course. There is a lot of information but there is also a lot of resources and support. I do not believe this course was intended to be completed within 30 days. There is way too much information.

Content Rating	80 100
Overall Rating	80 100

10/2/14 by srinadh.v

Content Rating	100 100
Overall Rating	100 100

9/25/14 by savaliya.h

Straighterline provided a flexible way to complete my courses and that was great.

Content Rating	80 100
Overall Rating	80 100

9/25/14 by savaliya.h

Straighterline provided a flexible way to complete my courses and that was great.

Content Rating	80 100
Overall Rating	80 100

9/21/14 by ajean013

Content Rating	40 100
Overall Rating	40 100

9/21/14 by ajean013

Content Rating	40 100
Overall Rating	40 100

9/17/14 by parul.p27

Content Rating	80 100
Overall Rating	80 100

9/17/14 by parul.p27

Content Rating	80 100
Overall Rating	80 100

9/7/14 by kt3193

Some questions were worded poorly and hard to understand. Other than that you can do well if you have the textbook.

Content Rating	100 100
Overall Rating	100 100

8/31/14 by martina.i88

Content Rating	80 100
Overall Rating	80 100

8/31/14 by martina.i88

Content Rating	80 100
Overall Rating	80 100

8/30/14 by jafoster

This is an excellent course. Personally, I think it went into a lot more detail than required, but if you plan on taking other Economic classes like International Trade, then this will definitely help you out. Some of the exam questions were a little specific. For example, in the midterm and final exam, there were very specific questions, that I definitely couldn't recall.

Content Rating	80 100
Overall Rating	80 100

8/30/14 by jafoster

Content Rating	80 100
Overall Rating	80 100

8/30/14 by pechase

This course was very informative. The textbook was relatively easy to understand.

Content Rating	80 100
Overall Rating	80 100

8/30/14 by pechase

This course was very informative. The textbook was relatively easy to understand.

Content Rating	80 100
Overall Rating	80 100

8/29/14 by dsykes

This is

Content Rating	80 100
Overall Rating	80 100

8/29/14 by dsykes

This is

Content Rating	80 100
Overall Rating	80 100

8/14/14 by johnnyc

It was pretty cool being able to take this course on my own pace and time.

Content Rating	80 100
Overall Rating	80 100

8/14/14 by johnnyc

It was pretty cool being able to take this course on my own pace and time.

Content Rating	80 100
Overall Rating	80 100

8/8/14 by samdmante

Very good

Content Rating	100 100
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8/8/14 by samdmante

Very good

Content Rating	100 100
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8/3/14 by dashy.mg

It was simply great.

Content Rating	80 100
Overall Rating	100 100

8/3/14 by dashy.mg

It was simply great.

Content Rating	80 100
Overall Rating	100 100

8/2/14 by animesh.k

very good course

Content Rating	80 100
Overall Rating	80 100

8/2/14 by animesh.k

very good course

Content Rating	80 100
Overall Rating	80 100

7/30/14 by nicolaspendl

took longer than ex

Content Rating	100 100
Overall Rating	80 100

7/30/14 by nicolaspendl

took longer than ex

Content Rating	100 100
Overall Rating	80 100

7/16/14 by Vvanisheuskaya

It was an okay course. You have to actually sit there and understand most of it if you want to pass.

Content Rating	60 100
Overall Rating	60 100

7/16/14 by Vvanisheuskaya

It was an okay course. You have to actually sit there and understand most of it if you want to pass.

Content Rating	60 100
Overall Rating	60 100

7/11/14 by khushinderrandhawa

The course was very knowledgeable . The practice exams were very informative. On the whole course provided me in depth knowledge of the subject.

Content Rating	80 100
Overall Rating	80 100

7/11/14 by khushinderrandhawa

The course was very knowledgeable . The practice exams were very informative. On the whole course provided me in depth knowledge of the subject.

Content Rating	80 100
Overall Rating	80 100

7/9/14 by kt3193

Some questions were worded poorly and hard to understand. Other than that you can do well if you have the textbook.

Content Rating	100 100
Overall Rating	100 100

7/7/14 by mmstevens.545

Very organized and thorough course on Microeconomics

Content Rating	100 100
Overall Rating	100 100

7/7/14 by mmstevens.545

Very organized and thorough course on Microeconomics

Content Rating	100 100
Overall Rating	100 100

7/5/14 by cebu2788

Great course. Learned a lot about microeconomics.

Content Rating	80 100
Overall Rating	80 100

7/5/14 by cebu2788

Great course. Learned a lot about microeconomics.

Content Rating	80 100
Overall Rating	80 100

7/3/14 by peytonmcgee

It was decent. Pretty straightforward.

Content Rating	100 100
Overall Rating	100 100

7/3/14 by peytonmcgee

It was decent. Pretty straightforward.

Content Rating	100 100
Overall Rating	100 100

5/10/14 by tiffany.p

Content Rating	80 100
Overall Rating	80 100

2/10/14 by srinadh.v

Content Rating	100 100
Overall Rating	100 100

9/19/13 by tcaro

The lessons that are provided throughout the class cover a very very small percentage of what you need to know. Also, understand that it is important to stay dedicated to doing the class and not put it off

Content Rating	80 100
Overall Rating	80 100

9/9/13 by williams

Content Rating	40 100
Overall Rating	40 100

9/6/13 by jacobthegreat2008

it was ok

Content Rating	80 100
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8/26/13 by lil_ebb

Content Rating	100 100
Overall Rating	100 100

8/22/13 by ldub4455

good course

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8/20/13 by elizabeth.l

Good - a lot of work, but good considering there were so many scores to help buffer any bad grades.

Content Rating	80 100
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8/20/13 by livia.k

good and true to the book

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8/19/13 by philipp.h

The course provided a nice and condensed overview over microeconomics for me. Well-structured and not too time-consuming course.

Content Rating	80 100
Overall Rating	80 100

8/13/13 by gregashton90

This course was very well put together! The lessons were easy to navigate and the information was very straight forward. I would recommend this course to anyone looking to take economics.

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8/7/13 by michelle.rosewell

This course is easy and can be completed very quickly. I loved taking this class.

Content Rating	80 100
Overall Rating	80 100

8/5/13 by anh.s.dong

The test material some how is missing or incorrect

Content Rating	20 100
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8/5/13 by zjones3

Very good

Content Rating	100 100
Overall Rating	100 100

7/26/13 by tameemkhan

A good compposite course

Content Rating	60 100
Overall Rating	80 100

7/24/13 by jeffgrattan25

Great when you have a busy schedule.

Content Rating	80 100
Overall Rating	80 100

7/12/13 by Lawrence.IreneA

I learned a ton and most of the concepts were presented in a straight-forward manner.

Content Rating	100 100
Overall Rating	80 100

7/12/13 by chestermanj1

This course was painless, quick and easy. I completed it in less than 2 weeks!

Content Rating	100 100
Overall Rating	100 100

7/10/13 by cartera3

Straightforward in regards to what is required. You really need to rely on the text though. The lesson slide show is informative, but you can't just use it for the tests. Overall it was awesome because I was able to complete courses within 3 weeks while working and enjoying my summer.

Content Rating	80 100
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5/30/13 by motesc

Content Rating	80 100
Overall Rating	80 100

5/10/13 by gbilas

Content Rating	80 100
Overall Rating	80 100

5/10/13 by marshantonio64

i was doing fairly well untill my last test and i got a 68.5 and that hurts bad

Content Rating	80 100
Overall Rating	80 100

5/9/13 by bowlingalone

It was good, I needed to read the book a lot.

Content Rating	80 100
Overall Rating	80 100

4/26/13 by jenntalley69

Content Rating	60 100
Overall Rating	60 100

2/16/13 by amerineni

Content Rating	80 100
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1/6/13 by alawson

Content Rating	80 100
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1/2/13 by dehzad1

Content Rating	80 100
Overall Rating	80 100

12/31/12 by bwwlhg

Content Rating	60 100
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12/30/12 by mpb43055

Content Rating	80 100
Overall Rating	80 100

12/28/12 by klawson007

Content Rating	60 100
Overall Rating	60 100

12/27/12 by kaylakpalmer

Content Rating	80 100
Overall Rating	80 100

12/24/12 by cal.haddow

Content Rating	100 100
Overall Rating	100 100

12/15/12 by christilsnyder

Content Rating	80 100
Overall Rating	80 100

12/13/12 by hargers1980

Content Rating	100 100
Overall Rating	100 100

12/5/12 by inaam_64

Content Rating	80 100
Overall Rating	80 100

12/3/12 by lilgrazie

Content Rating	80 100
Overall Rating	80 100

11/16/12 by bradyehines

Content Rating	80 100
Overall Rating	80 100

11/16/12 by bradyehines

Content Rating	80 100
Overall Rating	80 100

10/18/12 by Bluesky_believe

I like the fact that I could take these courses at my own pace.

Overall Rating	80 100
Content Rating	80 100

8/15/12 by Bluesky_believe

I like the fact that I could take these courses at my own pace.

Content Rating	80 100
Overall Rating	80 100

8/10/12 by k1w169

I liked that micro and macroeconomics had overlapping information. It made it easier and made me feel more confident

Overall Rating	100 100
Content Rating	100 100

5/17/12 by gspatola

I liked the practice tests

Overall Rating	80 100
Content Rating	80 100

5/7/12 by schulmansm

I liked the Review Presentations because I felt that they clearly explained the main concepts in the topic.

Overall Rating	100 100
Content Rating	100 100

4/23/12 by ftinoke

I liked the whole course setup becasue it was an easy way for me to learn with out a professor and it is online.

Overall Rating	100 100
Content Rating	100 100

3/21/12 by pdesmay

I thought it was a straight forward easy to use program.

Overall Rating	80 100
Content Rating	60 100

3/7/12 by k1w169

I liked that micro and macroeconomics had overlapping information. It made it easier and made me feel more confident

Content Rating	100 100
Overall Rating	100 100

2/27/12 by kylehausam

Loads of information. Great course

Overall Rating	100 100
Content Rating	100 100

2/12/12 by karinitapl

The aspect that I liked best from the course were the presentations since they helpful to understand better the concept of Microeconomics.

Overall Rating	100 100
Content Rating	100 100

1/3/12 by mikeniday

The tests were very fair. There were many small chapters with an exam at the end of each. This required less memorization at one time. The advisors were exemplary. Although there were several issues over the course of the class, the advisors were quick to resolve the issues.

Overall Rating	100 100
Content Rating	80 100

8/19/11 by gspatola

I liked the practice tests

Content Rating	80 100
Overall Rating	80 100

7/25/11 by schulmansm

I liked the Review Presentations because I felt that they clearly explained the main concepts in the topic.

Content Rating	100 100
Overall Rating	100 100

7/4/11 by globalposition2

Overall Rating	80 100
Content Rating	20 100

7/4/11 by amyartiga

Overall Rating	100 100
Content Rating	80 100

7/3/11 by bdstaub

Overall Rating	100 100
Content Rating	100 100

7/3/11 by brandon.jemison7

Overall Rating	100 100
Content Rating	80 100

7/2/11 by brandon.jemison7

Overall Rating	100 100
Content Rating	80 100

7/2/11 by chrislane125

Overall Rating	100 100
Content Rating	80 100

7/1/11 by damian.k.baker

Overall Rating	80 100
Content Rating	80 100

7/1/11 by FLOYDDELL.WILSON3

Overall Rating	100 100
Content Rating	100 100

7/1/11 by haroldrenner

Overall Rating	100 100
Content Rating	80 100

6/30/11 by jeff.miko

Overall Rating	100 100
Content Rating	100 100

6/30/11 by johwilson

Overall Rating	100 100
Content Rating	80 100

6/29/11 by johwilson

Overall Rating	80 100
Content Rating	80 100

6/29/11 by kaylakay12000

Overall Rating	100 100
Content Rating	100 100

6/29/11 by lucylu311

Overall Rating	80 100
Content Rating	60 100

6/28/11 by mcvittiethomas

Overall Rating	100 100
Content Rating	100 100

6/28/11 by MichaelNojlander

Overall Rating	100 100
Content Rating	100 100

6/27/11 by mistrey00

Overall Rating	100 100
Content Rating	80 100

6/27/11 by mwong320

Overall Rating	80 100
Content Rating	80 100

6/26/11 by naeml8

Overall Rating	80 100
Content Rating	80 100

6/26/11 by pilotkeiko

Overall Rating	100 100
Content Rating	100 100

6/26/11 by reginald.g.lee

Overall Rating	100 100
Content Rating	100 100

6/25/11 by seanpatrickfay

Overall Rating	80 100
Content Rating	100 100

6/25/11 by ssslaton

Overall Rating	20 100
Content Rating	20 100

6/24/11 by stefistan

Overall Rating	100 100
Content Rating	80 100

6/24/11 by tigerbalm2000

Overall Rating	80 100
Content Rating	60 100

6/23/11 by travismiddaugh

Overall Rating	100 100
Content Rating	100 100

6/23/11 by zfalbo1544

Overall Rating	100 100
Content Rating	100 100

6/23/11 by ftinoke

I liked the whole course setup becasue it was an easy way for me to learn with out a professor and it is online.

Content Rating	100 100
Overall Rating	100 100

4/6/11 by pdesmay

I thought it was a straight forward easy to use program.

Content Rating	60 100
Overall Rating	80 100

2/12/11 by kylehausam

Loads of information. Great course

Content Rating	100 100
Overall Rating	100 100

1/7/11 by karinitapl

The aspect that I liked best from the course were the presentations since they helpful to understand better the concept of Microeconomics.

Content Rating	100 100
Overall Rating	100 100

10/3/10 by mikeniday

Content Rating	80 100
Overall Rating	100 100

7/29/09 by globalposition2

Content Rating	20 100
Overall Rating	80 100

7/28/09 by amyartiga

Content Rating	80 100
Overall Rating	100 100

7/27/09 by bdstaub

Content Rating	100 100
Overall Rating	100 100

7/26/09 by brandon.jemison7

Content Rating	80 100
Overall Rating	100 100

7/25/09 by brandon.jemison7

Content Rating	80 100
Overall Rating	100 100

7/24/09 by chrislane125

Content Rating	80 100
Overall Rating	100 100

7/23/09 by damian.k.baker

Content Rating	80 100
Overall Rating	80 100

7/22/09 by FLOYDDELL.WILSON3

Content Rating	100 100
Overall Rating	100 100

7/21/09 by haroldrenner

Content Rating	80 100
Overall Rating	100 100

7/20/09 by jeff.miko

Content Rating	100 100
Overall Rating	100 100

7/19/09 by johwilson

Content Rating	80 100
Overall Rating	100 100

7/18/09 by johwilson

Content Rating	80 100
Overall Rating	80 100

7/17/09 by kaylakay12000

Content Rating	100 100
Overall Rating	100 100

7/16/09 by lucylu311

Content Rating	60 100
Overall Rating	80 100

7/15/09 by mcvittiethomas

Content Rating	100 100
Overall Rating	100 100

7/14/09 by MichaelNojlander

Content Rating	100 100
Overall Rating	100 100

7/13/09 by mistrey00

Content Rating	80 100
Overall Rating	100 100

7/12/09 by mwong320

Content Rating	80 100
Overall Rating	80 100

7/11/09 by naeml8

Content Rating	80 100
Overall Rating	80 100

7/10/09 by pilotkeiko

Content Rating	100 100
Overall Rating	100 100

7/9/09 by reginald.g.lee

Content Rating	100 100
Overall Rating	100 100

7/8/09 by seanpatrickfay

Content Rating	100 100
Overall Rating	80 100

7/7/09 by ssslaton

Content Rating	20 100
Overall Rating	20 100

7/6/09 by stefistan

Content Rating	80 100
Overall Rating	100 100

7/5/09 by tigerbalm2000

Content Rating	60 100
Overall Rating	80 100

7/4/09 by travismiddaugh

Content Rating	100 100
Overall Rating	100 100

7/3/09 by zfalbo1544

Content Rating	100 100
Overall Rating	100 100

Course Objectives

After completing this course, students will be able to:

Identify and apply relevant terminology and concepts to economic issues and problems.
Compare and contrast the market system of economics with other systems.
Analyze and synthesize the public and private sectors of the U.S. economy.
Use demand and supply models in the analysis of real-world issues.
Use the theory of consumer choice to explain and to predict consumer behavior.
Use market structure models to explain and to predict business firm behavior.
Explain the basis for and the benefits of trade.

Topic	Lesson Topic	Subtopics	Objectives
1	Thinking Like an Economist	Cost-Benefit Principle The Scarcity Principle Macroeconomics and Microeconomics The Economizing Problem	Define opportunity cost and provide an example. Explain the usefulness of the “other-things-equal” assumption in economics analysis, State the difference between Macroeconomics and Microeconomics. Explain the problem of unlimited needs and wants as it relates to the individual and to society. Explain the message of the basic production possibilities curve. Represent a relationship between two variables with a graph.
2	Comparative Advantage	International Trade Specialization and Comparative Advantage Government and Trade Trade Barriers Trade Agreements Production Possibilities	Define comparative advantage and use a table to illustrate the concept. Describe the gains from specialization and explain how exchange rates are determined. Identify common trade barriers imposed by governments and explain why governments interfere with trade. Analyze the economic impact of trade barriers. Describe notable trade agreements. Explain the difference between positive and normative economics. Determine comparative advantage. Determine comparative advantage from information implicit in two PPCs. Delineate a case for free trade.
3	Supply and Demand	Economic Systems Characteristics of the Market System Markets Demand Supply Market Equilibrium	Identify two major economic systems. Identify and explain the characteristics of the market system. Describe markets and their function. Explain the relationship between price and quantity demanded. Identify the determinants of demand. Explain and graphically illustrate the difference between a change in quantity demanded and a change in demand. Identify the determinants of supply. Explain and graphically illustrate the difference between a change in quantity supplied and a change in supply. Explain and graphically illustrate market equilibrium. Explain the Efficacy Principle. Apply demand and supply analysis to real-world issues and problems. Explain the income and substitution effects.
4	Elasticity	Price Elasticity of Demand Price Elasticity of Supply Cross Elasticity of Demand Income Elasticity of Demand	Calculate price elasticity of demand using the mid-point and the percentage formulas. Compare and contrast inelastic and elastic demands. Explain what determines price elasticity of demand. Apply price-elasticity of demand to real-world issues. Contrast the short-run and the long-run with respect to price elasticity of supply. Apply price elasticity of supply to real-world issues. Explain cross-price elasticity and income elasticity of demand.
5	Demand	Consumer Choice and Budget Constraint Rational Spending and the Demand Curve Consumer Surplus Optimal Combination of Resources	Explain and illustrate the Law of Diminishing Marginal Utility. Use the Law of Diminishing Marginal Utility to explain the shape of a typical demand curve. Use the Rational Spending Rule to determine how a consumer will allocate a fixed income in the purchase of two goods. Use the Rational Spending Rule to derive the demand for a product. Explain the income and substitution effects. Describe consumer surplus. Determine the optimal combination of resources using two methods.
6	Perfectly Competitive Supply	Characteristics of Perfect Competition Short-Run Profit Maximization Long-Run Profit Maximization Producer Surplus	Identify the characteristics of the representative firm operating under the conditions of perfect competition. Analyze the demand faced by the perfectly competitive firm. Calculate the purely competitive firm’s level of production and profit (or loss) in the short run using two methods. Explain the condition under which the perfectly competitive firm with shut down in the short run. Derive the competitive firm’s short-run supply curve. Analyze the perfectly competitive firm’s long-run equilibrium. Describe producer surplus.
7	Efficiency, Exchange, and the Invisible Hand	Economic Profit Economic Rent	Analyze the sources of economic profit. Explain the economic function of profit. Explain the existence of economic rent. Explain why Adam SMith believed the “invisible hand” would promote the public or social interest.
8	Monopoly, Oligopoly, and Monopolistic Competition	Characteristics of Pure Monopoly Monopoly Demand Monopoly Output and Price Determination Efficiency Implications of Pure Monopoly Price Discrimination Public Policy The Regulated Monopoly Characteristics of Monopolistic Competition Price and Output Determination in Monopolistic Competition Monopolistic Competition and Efficiency Characteristics of Oligopoly Models of Oligopoly Oligopoly and Efficiency The Antitrust Laws and Policy Effectiveness of Antitrust Laws Natural Monopoly	Compare and contrast the characteristics of pure monopoly with those of pure competition. Compare and contrast the demand curve and marginal revenue curve of the monopolist with that of the purely competitive firm. Use the MR=MC rule to determine the monopolist's profit maximizing price and output. Analyze the economic effects of monopoly. Define price discrimination. Identify real-world examples of price discrimination. Analyze the various public policies toward natural monopoly Compare and contrast the characteristics of monopolistic competition with those of pure competition. Use the MR=MC rule to determine the monopolistically competitive firm's output and price in the short and long run. Analyze the efficiency implications of the monopolistically competitive market. Identify the conditions that lead to oligopoly. Analyze three models of Oligopoly. Analyze the efficiency implications of oligopoly. Describe the most important of the antitrust laws of the U.S. and the historical events leading to the passing of these laws. Describe inconsistencies in antitrust policies. Analyze the conditions that result in the existence of natural monopoly.
9	Games and Strategic Behavior	Game Theory The Prisoner’s Dilemma	Use Game Theory to explain pricing behavior in different markets. Apply the Prisoner’s Dilemma to real-world scenarios. Provide examples when of when timing matters in a game.
10	Externalities and Property Rights	Externalities Private Ownership	Define positive and negative externalities. Use the Coase Theorem to analyze a real-world individual bargaining example. Explain various ways in which government can bring about efficiency in the face of externalities. Describe how private ownership prevents the “tragedy of the commons.”
11	The Economics of Misinformation	Economic Value The Cost-Benefit Test Asymmetric Information	Explain how buyers and sellers can create real economic value. Identify the optimal amount of information by applying the Cost-Benefit Principle. Define Asymmetric information. Describe how asymmetric information contributes to the lemons problem. Explain the responses to asymmetric information problems.
12	Labor Markets, Poverty, and Income	Labor, Wages, and Earnings Perfect Competition in the Labor Market Imperfect Competition in the Labor Market The Minimum Wage Debate Wage Differentials Facts About Income Inequality Causes of Income Inequality Income Inequality Over Time Poverty Economic Effects of Unions Labor Market Discrimination Economic Analysis of Discrimination Marginal Productivity Theory Deadweight Loss	Distinguish between nominal wages and real wages. Describe the relationship between real wages and productivity. Analyze wage determination in a purely competitive labor market. State a case for and against the minimum wage. Analyze the causes of income inequality. Present historical data on income inequality. Define poverty and delineate the incidence of poverty. State ways in which unions may decrease economic efficiency. State ways in which unions may increase economic efficiency. Define labor market discrimination and identify the types of discrimination that may occur. Explain how changes in the determinants of resource demand impact the demand for resources. Illustrate deadweight losses due to over- or under-production of an economic good.
13	The Environment, Health, and Safety	Costs and Access High and Rising Health Care Costs Why Costs Are Rising So Rapidly Health Care Reform Pollution Workplace Safety	Present current statistics relative to the health care industry. Analyze the health care industry and explain why costs are rising so rapidly in that industry. Use cost-benefit criterion to show why health care costs are rising so rapidly. List various options to health care reform. Discuss the ways in which taxes and tradeable permits can reduce pollution. Apply the Cost-Benefit Principle to improve workplace safety.
14	Public Goods and Tax Policy	Public Goods Tax Incidence and Efficiency Loss	Compare and contrast private goods and public goods. Use the MB=MC rule to determine the optimal quantity of public goods. Explain why rent seeking occurs. Contrast progressive, proportional, and regressive taxes. Analyze the relationship between elasticity and tax incidence. Illustrate the efficiency loss of a tax.
15	Review		None

There are no prerequisites to take Microeconomics.

The required eTextbook for this course is included with your course purchase at no additional cost. More information on StraighterLine eTextbooks

Prefer the hard copy? Simply purchase from your favorite textbook retailer; you will still get the eTextbook for free.

Authors Bob Frank, Ben Bernanke, and introducing Kate Antonovics from the University of California San Diego and Ori Heffetz from Cornell University, present a coherent short list of core principles in introductory economics and reinforce them by illustrating and applying each in numerous contexts. With engaging questions, explanations and exercises, the authors help students relate economic principles to a host of everyday experiences such as going to the ATM or purchasing airline tickets. Throughout this process, the authors encourage students to become "economic naturalists:" people who employ basic economic principles to understand and explain what they observe in the world around them.

StraighterLine provides a percentage score and letter grade for each course. A passing percentage is 70% or higher.

If you have chosen a Partner College to award credit for this course, your final grade will be based upon that college's grading scale. Only passing scores will be considered by Partner Colleges for an award of credit.

There are a total of 1000 points in this course.

Final Proctored Exam

The final exam is developed to assess the knowledge you learned taking this course. All students are required to take an online proctored final exam in order complete the course and be eligible for transfer credit.

Learn more about Proctored Exams

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eTextbook*: ECON102 eTextbook (a $166.96 value) +$0.00
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Tutoring (included)*: Tutoring +$0.00

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