Economics I Intro

This course offers an introduction to some of the key concepts used by economists, with a focus on microeconomic analysis. The main topics covered include consumer and producers' behaviour, the effective functioning of competitive markets and situations where market equilibrium is not optimal, thus generating the need for government intervention. This course also covers situations where markets are not perfectly competitive (monopolies, oligopolies and monopolistic competition). Finally, it also includes 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, it examines theory and ideas that economists use to structure their thinking. Secondly, it covers policy applications and debates where the theory is applied and put to test. Thirdly, it looks at evidence from empirical studies to highlight principles of applied research design.