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Economics 101: Microeconomics
The field of economics is often divided into microeconomics and macroeconomics. Macroeconomics is concerned with how an economic system behaves as a whole whereas microeconomics is concerned with the study of how individual consumers and producers behave within an economic system. Reading: The primary textbook for the course is Principles of Microeconomics by Frank and Bernanke. Grading: Your grade for the course will be determined by the results of two midterm exams, one final exam, and class participation. The breakdown is as follows:
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Topics
Thinking Like an Economist
Supply and Demand: An Introduction
Demand: The Benefit Side of the Market
Perfectly Competitive Supply: The Cost Side of the Market
Efficiency and Exchange
The Quest for Profit and the Invisible Hand
Monopoly and Other Forms of Imperfect Competition
Thinking Strategically
Externalities and Property Rights
The Economics of Information
The Economics of Public Policy
Public Goods and Taxation
Income Redistribution
International Trade and Comparative Advantage
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