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Principles of Economics

This course is a guide to economic literacy and the global economy in the 21st century. Topics covered include how markets work, including consumer behavior, economic cost analysis, and determination of prices; market structures and their impact on business behavior; the relationships among labor, business, and government; business cycles; money creation and the banking system; economic stabilization policies, including deficit financing and taxation; international trade, and prospects for sustainable development. Alternative theoretical perspectives are introduced. Examples are drawn from the global economy.