Microeconomics for Public Policy
Credits / Language / Semester
4Credits / English / Winter
This is an introductory course in microeconomics, which covers the fundamental theories of the consumer, the firm, and markets. Emphasis will be on applying these theories to understanding and evaluating real world events so that the student learns to think like an economist. It assumes no prior knowledge of economics, and some of high school level mathematics and graph based reasoning will be used.
We cover the following topics in class:
1. Demand, supply, equilibrium, elasticity
2. Demand, supply & government policies
3. Consumer surplus, efficiency
4. Costs of taxation, international trade
5. Externalities, public goods
6. The costs of production
7. Firm behavior in competitive market
9. Price discrimination
10. Game theory (oligopoly)
11. Monopolistic competition
12. Asymmetric information
Homework & in-class assignments, Midterm exam, Final exam, Class participation
Mankiw G., Principles of Microeconomics, Cengage Learning.
Notes on Taking the Course
All students who intend to take this course should attend the first class meeting. Those who have previously studied economics should take an upper-level course, such as Microeconomics (offered during the summer semester). Non-GraSPP students have to obtain the instructor’s permission to take this course. All students should officially register for the course (no auditing students).