The course provides an introduction to a core area of economics known as microeconomics. This course begins with an introduction to supply and demand and the basic forces that determine an equilibrium in a market economy. Next, it introduces a framework for learning about consumer behavior and analyzing consumer decisions. We then turn our attention to firms and their decisions about optimal production, and the impact of different market structures on firms’ behavior. The final section of the course provides an introduction to some of the more advanced topics such as Market failure, Asymmetric information, Externalities and theories of distribution.
Course Outcomes:
After completing this course, students should have developed a range of skills enabling them to understand economic concepts and use those concepts to analyze specific questions. By the end of this course, students should be able to:
1. Understand consumer behavior.
2. Understand firm behavior.
3. Analyze different types of market structures (monopoly, oligopoly and a competitive market).
4. Apply Micro economic tools to solve real life problems especially under uncertainty and game theory.
- Teacher: Dr Priyanka Sahni
- Teacher: Dr. Priyanka Sahni