COURSE DETAIL
This is an introductory course that lays the foundation for understanding the economic behavior of individual consumers, firms, and markets. This course delves into the fundamental theories and concepts of microeconomics and illuminates how these concepts apply to real-world situations. Students will explore supply and demand, elasticity, utility, production, cost, market structures (including perfect competition, monopoly, monopolistic competition, and oligopoly), factor markets, and market failure. This course requires no prior knowledge of economics and is suitable for students of all disciplines interested in understanding how microeconomic principles affect everyday life.
Students are expected to actively participate in various classroom experiments throughout the semester.