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ECON 5000

Economics is a social science with the central purpose of studying the allocation of scarce resources among alternative competing uses. The purpose of this course is to introduce students to basic analytical principles and to provide tools of analysis that can be used to understand economic phenomena, issues and policies. Microeconomics focuses on the behaviour of individual economic agents (households, firms and government), with the determination of prices and quantities in individual markets for resources and commodities, and with the role of governments in the functioning of the market system.