ECON201: Intermediate Microeconomics
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Discover the principles of microeconomics and gain a fundamental understanding of rational choice behavior. Explore economic models and learn how market mechanisms solve complex resource allocation problems. This course presents a logical framework to explain and predict various economic phenomena. Dive into topics like trade, externalities, producer theory, consumer theory, and competition. Expand your knowledge and explore the incentives and constraints that shape individual and firm behavior in an economic environment. Start with an introduction to basic concepts and progress through the units to enhance your understanding of microeconomic principles.
Microeconomics is the study of rational choice behavior on the part of individual consumers and firms.
In general, economists are interested in how market mechanisms solve extremely complex resource allocation problems.
This course presents a logical and coherent framework in which to organize observed economic phenomena.
Several economic “models” are developed and analyzed in order to help explain and predict a wide variety of economic (and sometimes, seemingly non-economic) phenomena.
Microeconomic theory is based on the notion that individuals (and firms) have well defined objectives (such as maximizing utility or profits) and behave systematically according to the incentives and constraints of their economic environment.
It is this framework which allows the economist to gain a fundamental understanding of the choices people make in an economic setting.
Unit 1: Introduction and Basic Concepts
Unit 2: Trade and Externalities
Unit 3: Producer Theory and Investment
Unit 4: Consumer Theory and Equilibrium
Unit 5: Competition
