The 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 producer behavior, competitive markets, as well as market failure and the need for governmental intervention. The goal of the course is for students to learn how economists think and it is built around three components. The first of these is the theory and ideas that economists use to structure their thinking. The second component is policy applications and debates where this theory will be applied and put to test, while the third is evidence from empirical studies to highlight principles of applied research design.
This course is for 1st year MIA, MPP and MDS students only.