This course will introduce students to the fundamental concepts in microeconomics and macroeconomics. The microeconomics part will cover concepts such as consumer behavior, supply and demand interaction, and the effects of government interventions (e.g. taxes, subsidies, and environmental policies) on market outcomes and economic efficiency. These concepts build the foundation for COMM 172 (Managerial Economics), which focuses on economic decision making within a business context. The topics covered in the macroeconomics part (15 lectures) include national output and income, the economy in the short vs. long run, banking and monetary policies, labour markets, asset pricing in stock and real-estate markets, and international trade.
Requirements: This course is restricted to students enrolled in the Commerce Program.
Exclusions: No more than one course from COMM 171, ECON 110 or ECON 111 or ECON 112