Official Course Objectives

These are the official Economics Department course objectives for ECON 202 which are the same for all sections:

Principles of Microeconomics, is designed as a student’s first exposure to the study of economics (though many times students in 202 have completed Econ 201 – Principles of Macroeconomics).  In general, economics deals with the study of choices (decision-making).  In particular, this course develops the economic approach to decision-making by households and firms.  As such, the course focuses on understanding and applying economic models related to households, firms, and their interaction in markets.  

Students will gain a basic understanding of:

1.      How economists use theory and models to understand the allocation of scarce resources.

2.      How households choose to allocate scarce resources.

3.      How firms choose to allocate scarce resources.

4.      How firms and households interact with each other in markets.

Here are the learning objectives for UMW General Education Requirement: HUMAN EXPERIENCE AND SOCIETY (which ECON 202 satisfies):

  1. Students will be able to explain human and social experiences and activities from multiple perspectives.
  2. Students will be able to draw appropriate conclusions based on evidence.
  3. Students will be able to transfer knowledge and skills learned to a novel situation.


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