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The study of economics is essentially about dealing with scarcity, resource allocation, and the methods and processes by which choices are made in the satisfaction of human wants. This course encourages students to develop international perspectives, to foster a concern for global issues, and raises students’ awareness of their own responsibilities at a local, national, and international level.

Economics uses scientific methodologies that include quantitative and qualitative elements. This course emphasizes the economic theories of microeconomics, which deal with economic variables affecting individuals, firms, and markets, and of macroeconomics, which deal with economic variables affecting countries, governments, and societies.

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