EC401E - Fundamental economics

Objectives

General objective:

This course introduces the fundamental techniques and principles of microeconomic theory. It provides students with a solid foundation in economic analysis and develops rigorous skills in the application of these tools to real-world situations, through detailed problem sets and exercises.

Economic analysis has widespread applications in business, government, and everyday life, including the study of decision-making and strategic behaviour.

Detailed objectives:

Upon completion of the course, students will have developed a set of skills that enable them to understand economic concepts and how to apply them to analyze specific policy questions.

The course covers topics that may include:

-Supply and demand
-Consumer behaviour
-Producer behaviour
-Market structures and pricing strategy
-Imperfect competition and game theory
-Asymmetric information
-Behavioural and experimental economics

Suggested textbook:

Austan Goolsbee, Steven Levitt, and Chad Syverson, Microeconomics, Worth Publishers, 2013.

Form of assessment

Total assessment hours: 2