Microeconomics Principles

This course offers an introduction to the functions of individual decision-makers—both consumers and producers—within the larger economic system. Emphasis is on the nature and functions of product markets, the theory of the firm under varying conditions of competition and monopoly, and the role of government in promoting efficiency in the economy.

Most people make the incorrect assumption that economics is ONLY the study of money. My primary goal in this course is to shatter this belief. During this course, we will be addressing the above questions as well as many more relating to:

• the environment
• love and marriage
• crime
• labor markets
• education
• politics
• sports
• business

My main goal is to show you the way economists think and how to use this analytical system to answer questions related not only to these and other important human issues, but to anything you end up doing with your life after this class. After all, as you will quickly find out, I believe that everything is economics!

This course will be broken up into 8 modules covering the following topics:

Module 1: Basic Concepts, Modeling, and Trade

Module 2: Supply and Demand

Module 3: Market Efficiency and Government Intervention

Module 4: Elasticity and Taxes

Module 5: Production and Costs

Module 6: Competitive Output

Module 7: Firms With Market Power

Module 8: Public Goods, Common Resources, and Externalities