Course Description
Summary
A central element of the “economic problem” is coordination of people's economic actions. In a market economy, prices play a crucial role in addressing this problem. This course examines how the system of prices work, and when it fails.
This is an introductory course in microeconomic theory and applications. We will explore the basic ideas in the course verbally and through written expositions, and we will use graphs and mathematical formulations to express the key concepts in formal terms. For this, a grasp of high-school algebra and geometry is required.
