Credit Hours:3 Lecture Hours:3 Contact Hour Total:48 Analysis of the behavior of individual economic agents, including consumer behavior and demand, producer behavior and supply, price and output decisions by firms under various market structures, factor markets, market failures, and international trade. A study of micro-economic principles with emphasis on price theory, labor problems, and international economic relations. Special attention is given to the allocation of resources and distribution of income in a market economy. Texas Higher Education Coordinating Board Lower Division Academic Course Guide Manual (ACGM) course