Overview of Course

An introduction to microeconomics, this course will use real-world examples to understand the way markets work. Topics include supply and demand, market equilibrium, consumer theory, production and the behavior of firms, welfare economics, and public goods. We will also examine situations when markets are inefficient such as the effects of lack of competition, externalities, and incomplete information. We will analyze data from current events and evaluate possible policy responses to market inefficiencies. Strong microeconomic intuition is beneficial in professional settings and you will gain a stronger understanding of current policy and political issues. You will be surprised by the number of applications in your everyday life!