Introduction to price theories, the behavior of the firm under varying market conditions and the behavior of the consumer. Policies on the acceptance of AP credit vary among academic programs and from institution to institution, so AP credit toward the GECC or major requirements is not guaranteed. A score of 3 or higher on the AP Microeconomics exam may be considered as equivalent to successful completion of post-secondary courses approved for IAI GECC S3 902. Feb 2016Current Revision - 3/16/2023 - Credit hours changed to range of 3 to 4 credit hours to accommodate 1 credit hour supplemental lab or discussion hour. The course must clearly encompass the normal 3 credit hour lecture plus the 1 credit hour lab or discussion session/workshop.Reviewed Fall 2017 - Remains unchanged