This course is an introduction to terms, tools, and concepts that are basic to microeconomic analysis. Specifically, it includes supply and demand analysis, consumption theories, as well as production and cost theories, externalities and international trade. It further examines firm behavior under alternative market structures in both the goods and services markets as well as the factor markets. Students who need to take both Principles of Microeconomics and Principles of Macroeconomics may fill the requirement either by taking ECON 200 - Principles of Macroeconomics and ECON 201, or ECON 205 - Principles of Economics. Students may not get credit for both ECON 200 - Principles of Macroeconomics and ECON 205 - Principles of Economics or ECON 201 and ECON 205 - Principles of Economics.