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"Degrees & Programs"


Principles of Microeconomics




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Course level: Undergraduate

This course provides students with the basic theories, concepts, terminology, and uses of microeconomics. Students learn practical applications for microeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events.



What you'll learn

Course skills and outcomes

The Fundamentals of Microeconomics

  • Describe the economic foundations that explain how people make decisions and interact.
  • Illustrate how the models of supply and demand work.

Market Dynamics and Efficiency

  • Demonstrate how supply and demand determine the price and quantity exchanged of goods and services.
  • Examine market outcomes and the effectiveness of different economic policies using the concepts of consumer surplus and producer surplus.

Elasticity and Consumer Choice

  • Calculate how quantity supplied and quantity demanded respond to changes in prices and income.
  • Apply consumer choice theory to the decisions made by consumers to maximize their utility.

The Microeconomics of Product Markets

  • Calculate the different costs associated with the production of goods and services.
  • Determine the short-run and long-run profit-maximizing outcomes of various market
  • structures.

The Microeconomics of Resource Markets and Trade

  • Analyze resource markets to determine resource prices and optimal resource utilization.
  • Integrate the concepts of supply, demand, and market efficiency to analyze international trade and trade policies.


Why take courses at University of Phoenix

Accreditation that matters

We’ve been accredited by the Higher Learning Commission ( for more than 40 years.

Real-world instructors

Learn from instructors who bring an average of 25 years of working experience to the classroom.

Affordable and potentially reimbursable

Our tuition and fees are competitive and fixed. Also, check to see if your employer will cover you for this course.

Next Steps

Start a conversation about your future with an enrollment representative today.

Start a conversation about your future with an enrollment representative today.

Call (844) 937-8679

Transfer Credits

Credit Transfer

Credit Transfer

Need to transfer credits to another college or university?

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