Offered to: Class of 2020, 2021, and 2022
Prerequisites: Basic Mathematics, No Calculus
Office Hours: By appointment
Economics is the study of decision making under scarce resources, i.e., how economic entities decide on spending their resources to attain their economic objectives. Given scarce resources, these entities are limited in how much they can spend on any one activity as whatever they spend on an activity is not available to be spent on another activity. This course will focus entirely on decisions made by individual entities like consumers and producers, both when they are faced with uncertainty and when they are not.