BUS 612 - Microeconomics/international Trade, 3 credit hours

A study of economic theory of the firm and markets on which many managerial decisions are based. The theory serves as a foundation for understanding the patterns of international trade and the role of the firm in global markets. The theory also has a role in a nations international trade policy. Subjects include theory of demand, price making, costs, production, economies of scale, market structures, comparative advantage, international terms of trade, and trade barriers.