Course Description
After an introduction to the nature of Economics (1), and the problem of scarcity (2), this Microeconomics course examines the basics of Supply and Demand (3) followed by elasticity of Demand and Supply (7). The Economics of the Firm follows with Costs of Production (9), Pure Competition (10), Monopoly (11), Monopolistic Competition and Oligopoly (12).

The second half of the semester examines Factor Markets in general (4), Labor Markets and Unionism in particular (15), and incomes to the other three factors of production: Interest, Rent and Profits. Special topics explored include Income Distribution and Poverty (21), International Trade and Protectionism (24), and International Finance (25).

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