ECONOMICS FOR NONPROFITS

Application of the field of economics to study the activities of nonprofit organizations. Examines the ways in which economics affects every organization, even those that do not set out to earn a profit, and provides an understanding of basic principles of microeconomic analysis, such as opportunity costs, marginal analysis, elasticity, externalities, and public goods with which to analyze policies, programs, and operations. Theories of why nonprofit organizations exist and how they behave will be studied.