ECON S-1010 Microeconomic Theory
This course presents the basic analytical tools of microeconomics. We start by looking at the decision making of individual consumers and ask how these decisions can be optimized, or improved. Next, we look at how firms make and coordinate their decisions under varying market structures, including perfect competition and monopoly. Then we look at strategic behavior in imperfectly competitive markets, making use of concepts from game theory such as Nash equilibrium. Finally, we take up topics including bargaining theory, information economics, externalities, public goods, and welfare analysis. Students learn the key tools and principles economists apply to understand a wide range of phenomena, using graphical representations, some math, and plain logic to present the important ideas and solve basic microeconomic problems.