About the Course
Principles of microeconomics with emphasis on methodology of economic analysis, supply and demand theory, market theory, resource allocation, and the provision of public goods. In the study of economics, we assume homo economics rationally pursues profit and growth that, at times, disregards both negative and positive impacts on the rest of society. Promoting social responsibility, we’ll explore economic principles to align private and social preferences to maintain a habitable and sustainable world for present and future generations. We’ll also consider how incentives can increase social awareness, and inspire collective action to improve general welfare.
- Explain the economic behavior of households and individual firms.
- Describe and apply the scientific method to economic behavior.
- Apply the principles of supply and demand to determine prices and identify the factors that affect supply and demand.
- Describe and distinguish between various forms of market structures.
- Evaluate the costs and benefits of alternative forms of public policy.