Economics I

The course offers an introduction to some of the key concepts used by economists with a focus on micro-economic analysis. The main topics covered include consumer and producer behaviour, competitive markets, but also market failure and the need for government intervention. We will also go over some advanced topics such as game theory and how information and uncertainty complicate the optimal functioning of markets. The goal of the course is for students to learn how economists think and it is built around three components. Firstly, theory and ideas that economists use to structure their thinking. Secondly, policy applications and debates where the theory will be applied and put to test. Thirdly, evidence from empirical studies to highlight principles of applied research design.