ECON 102Introductory Microeconomic Analysis and Policy

3 credits · Economics · Penn State

Methods of economic analysis and their use; price determination; theory of the firm and distribution. ECON 102 Introductory Microeconomic Analysis and Policy (3)(GS)(BA) This course meets the Bachelor of Arts degree requirements. Economics is the study of how people satisfy their wants in the face of limited resources. One way to think about economics is that it is a consistent set of methods and tools that is valuable in analyzing certain types of problems related to decision--making, resource allocation, and the production and distribution of goods and services. There are two main branches of economics, microeconomics, and macroeconomics. Macroeconomics is concerned with economy--wide factors such as inflation, unemployment, and overall economic growth. Microeconomics deals with the behavior of individual households and firms and how government influences that behavior; it is the subject of this course. More specifically, ECON 102 is an introduction to microeconomic analysis and policy. The principal objective of the course is to enable students to analyze major microeconomic issues clearly and critically. Students will be introduced to the methods and tools of economic analysis, and these analytical tools will be applied to questions of current policy interest. Learning these methods and tools and applying them to interesting policy questions and issues is sometimes called "thinking like an economist." An important goal of this course is to take each student as far down the road of "thinking like an economist" as possible. A variety of mechanisms are used to assess student performance. These evaluation methods typically include exams, quizzes, homework assignments, and group projects. ECON 102 is an introductory course in economics and as such, serves as a prerequisite for several microeconomics--oriented 300--level courses. It is also a required course for all majors and minors in economics, and meets requirements for a General Education (GS) or Bachelor of Arts social science course. Students who have completed ECON 302 may not enroll in this course.

Before you enroll

Prerequisites

None listed in the catalog.

Counts toward

General education

Social & Behavioral Sciences (GS)

Where it fits

Where it sits in degree plans

Suggested plans most often put it in Year 1 · Spring (66 programs).

Required in (66)

Accounting, B.S. (Abington)
Accounting, B.S. (Altoona)
Accounting, B.S. (Behrend)
Accounting, B.S. (Berks)
Accounting, B.S. (Business)
Accounting, B.S. (Capital)
Actuarial Mathematics and Statistics, Certificate
Actuarial Science, B.S.
Advertising/Public Relations, B.A.
Applied Economics, Minor
Arts Administration, B.A.
Business Analytics and Information Systems, B.S.
and 54 more

One of the options in (68)

Aerospace Engineering, B.S.
African Studies, B.A.
Agribusiness Management, B.S.
Agribusiness Management, Minor
Agricultural and Biorenewable Systems Management, B.S.
Animal Science, B.S.
Architectural Engineering, B.A.E.
Biomedical Engineering, B.S.
Business Administration, A.S. (Abington)
Business Administration, A.S. (Altoona)
Business Administration, A.S. (Berks)
Business Administration, A.S. (Capital)
and 56 more

What it opens up

Courses that list ECON 102 as a prerequisite (69)

ABSM 402 Foundations of Sustainable Business
ACCTG 404 Managerial Accounting: Economic Perspective
AGBM 106 Agribusiness Problem Solving
AGBM 302 Food Product Marketing
AGBM 308W Strategic Decision Making in Agribusiness
AGBM 320 Markets and Prices: Analysis and Forecasting
AGBM 338 Agribusiness in the Global Economy
AGBM 407 Farm Planning and Financial Management
AGBM 455 Retail Horticulture Business Management
AGBM 470A Comparing Agricultural and Food Systems in the US and France: Lecture
BA 301 Finance
BA 302 Supply Chains
BA 303 Marketing
BA 304 Management and Organization
BA 321 Contemporary Skills for Business Professionals
BA 322 Negotiation Skills for Business Professionals
BA 499 Foreign Study--Business Administration
BME 448 Regulatory Affairs
BRS 437 Bioproduct Marketing and Sales
CED 230 Development Issues in the Global Context
CED 309 Land Economics and Policy
CED 428 Economic Decision-Making for Sustainability
EBF 200 Introduction to Energy and Earth Sciences Economics
EBF 404W The Great Energy Transition: Law, Economics, and New Frontiers
ECON 302 Intermediate Microeconomic Analysis
ECON 302H Intermediate Microeconomic Analysis (Honors)
ECON 315 Labor Economics
ECON 323 Public Finance
ECON 333 International Economics
ECON 342 Industrial Organization
ECON 410 Economics of Labor Markets
ECON 430 Regional Economic Analysis
ECON 442 Managerial Economics
ECON 460 Issues in Sports Economics
ECON 470 International Trade and Finance
ECON 472N Russian Economic History
ECON 474 Experimental and Behavioral Economics
ECON 485 Econometric Techniques
ECON 499 Foreign Study--Economics
EET 480 Electrical and Computer Systems Senior Seminar
EGEE 405 Renewable Energy in Electricity Markets
ENGR 407 Technology-Based Entrepreneurship
ENGR 425 New Venture Creation
ENGR 426 Invention Commercialization
ERM 402 Foundations of Sustainable Business
ERM 411 Legal Aspects of Resource Management
ERM 449 Sustainable Water Management: Economics and Policy
FIN 301 Corporation Finance
FIN 301H Corporation Finance (Honors)
FIN 302 Introductory Financial Modeling
FIN 477 Behavioral Finance
FOR 440 Forest and Conservation Economics
HIST 402N Russian Economic History
HM 435 Hospitality Corporate Finance
HORT 455 Retail Horticulture Business Management
HPA 210 Health Care Payment
HPA 301 Health Services Policy Issues
HPA 301H Health Services Policy Issues
HPA 301W Health Services Policy Issues
HPA 446 Economics and Health In Low- and Middle-Income Countries
INTAG 470A Comparing Agricultural and Food Systems in the US and France: Lecture
IST 425 New Venture Creation
IST 426 Invention Commercialization
MGMT 345 Cultural Intelligence in Leadership and Management
MGMT 425 New Venture Creation
MGMT 426 Invention Commercialization
MGMT 427 Managing an Entrepreneurial Start-Up Company
SCM 301 Supply Chain Management
SCM 301H Supply Chain Management - Honors