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