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Study of individual economic units with particular emphasis on market interactions among firms and households.
Dates: July 2 - August 10, 2018; Instructor: Becka Brolinson
This is an introductory undergraduate course that teaches the fundamentals of microeconomics. We will begin with microeconomic concepts and analysis and simple graphical and mathematical models of supply and demand. Then we will work on individual decision making and the theory of firm behavior. Finally, we will demonstrate the efficiency of perfectly competitive markets, describe the conditions under which that efficiency arises, and examine market failures that occur when those conditions are not met.
Students must be able to complete basic analysis using graphs and algebra before the start of the course. By the end of the course, students will be able to: • analyze supply and demand diagrams to solve for equilibrium • understand the consumer problem and how changes in prices affect consumer and firm decision making • analyze the behavior of firms under perfect competition and imperfect competition • calculate consumer and producer surplus • understand how externalities affect market outcomes
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|EC 011 OL1||Economics: Principles of Macroeconomics (online)||to||N/A||See Notes||3||60028|
|EC 011 OL2||Economics: Principles of Macroeconomics (online)|
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|EC 012 OL1||Economics: Principles of Microeconomics (online)||to||N/A||See Notes||3||60029|
|EC 040 OL1||Economics: D2:SU:Econ of Globalization (online)||to||N/A||See Notes||3||60077|
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