Social Studies
The course introduces the student to the principles of microeconomics and the microeconomic way of thinking. Topics covered in this course include: supply and demand, elasticity, market efficiency, taxation and impacts, externalities, public goods, and free-rider problem, common resources and the tragedy of the commons, production and costs, competitive firm pricing and output, monopoly firm pricing and output, monopolistic competitive firm pricing and output, oligopoly firm pricing and output, game theory, markets for factors of production, wage-earning, and poverty.

Level: High School

Course: Elective