Principles of Economics

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What to expect

This course introduces both macroeconomics and microeconomics. At a business and professional level, macroeconomics can help to answer questions such as the following: How much should I manufacture this month? How much inventory should I maintain? At a personal level: Should I switch jobs-or ask for a raise? Should I buy a house now or wait until next year? Should I get a variable or fixed-rate mortgage? And what about my investments for retirement? In contrast, microeconomics can help to answer the following questions: How can my firm minimize its costs and increase its profits? What prices should I charge for my products? Will I really be better off financially if I quit my job now and go back for an MBA degree? What kind of career should I be preparing myself for? What about that new refrigerator or automobile I want to buy?

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