Through the UAPP693: Economics in the Public & Nonprofit Sectors course, I gained an understanding of Microeconomic theory and how it can be applied to the analysis of public policy and programs, as well as to administrative issues. Basic concepts learned through the course include:

Tradeoffs
Supply and Demand
- Advertising and demand
- Price elasticity of demand
Consumer Utility
Flat Tax
Market Economies v. Market Societies
Natural v. Man-Made Markets
Regulation of Natural Monopolies
Costs of Production
Monopolistic Competition
Oligopolies