Micro Economics - DPS 51086

DPS 51086 36 hours

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Ours is one of the wealthiest nations in the world and Canadians enjoy many privileges of economic freedom. But do we know why?  Economics touches every aspect of our lives and explains the forces driving globalization of the Canadian economy and the world around us. This course examines modern economic theory and principles at a micro level. Topics include supply and demand, consumer behaviour, price determination, resource allocation, money and banking, national income accounting, and labour. It also examines the role of monetary and fiscal policies in stabilizing the economy and promoting economic growth.

Outcomes

On completion of this course, students will:

  • Define and describe micro  economics key principles and theories;
  • Apply appropriate tools related to demand, supply, market price and elasticity;
  • Describe how a market economy works;
  • Discuss the difference between monopolistic and perfect competition;
  • Explain factors of production;
  • Assess the role government policy, from a Canadian perspective, has in economics.

Additional Comments

  • DPS 51087 - Macro Economics  and DPS 51086 - Micro Economics will be posted on the website as equivalent to ECON 1102 and 1103, but not eligible for transfer credit to Department of Economics
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