The first semester of a standard two-semester sequence for those considering further work in management or economics. Coverage includes economics of households, business firms, and markets; consumer behavior and the demand for commodities; production, costs, and the supply of commodities; price determination; competition and monopoly; efficiency of resource allocation; governmental regulation; income distribution; and poverty. In 2018-19 this course fulfills a single unit in each of the following BU Hub areas: Social Inquiry I, Critical Thinking. In 2019-20 this course fulfills a single unit in each of the following BU Hub areas: Social Inquiry I, Ethical Reasoning, Critical Thinking.