About This Course

Microeconomics introduces students to the ideas of how society and individuals use limited resources to meet their needs. It focuses on the individual and the firm within the Canadian economy to develop competencies in understanding current events through the application of microeconomic theories including supply, demand, prices, wages, unemployment, markets, competition and monopoly. It examines the concept of market failure and the need for government intervention to achieve social and political goals. This course provides the foundation for further study of the accumulative effects of these elements in macroeconomics.