ECON 210: Principles of Microeconomics

Discover the intricate components of an economy, including savings, budgets, and trade balances. Learn how these elements interconnect and influence private investment. Understand an economic identity that determines an economy's investment levels.

Uncover the fundamental concept of economic resources and their pivotal roles. From land and labor to capital and entrepreneurship, grasp the intricacies that drive production. Experience an insightful look into the elements shaping our economic activities.

Explore the dynamics of frictional unemployment in a constantly changing economy. Learn about government roles and strategies in mitigating its impacts. Understand how workforce transitions can be made smoother with informed interventions.

Explore the differences between the Four-firm Concentration Ratio and the Herfindahl-Hirschman Index. Understand how they assess market concentration and dominance. Get insights into market power dynamics by comparing these two indices.

Unexpected inflation can shift wealth between lenders and borrowers. This phenomenon affects the real value of money repaid, disadvantaging the creditors. Additionally, businesses face operational expenses like menu costs during inflation adjustments.

Distinguish between positive and normative economic statements with real-world examples. Grasp the difference between objective explanations and value judgments in economics. Master the foundations of economic thought and their application.