MW 11:15am-12:30pm
What are Markets? Why do we have governments? Are monopolies good
for consumers? These questions exemplify the types of fundamental
problems faced by modern societies. This course builds the
foundation for economic analysis and the base of economic knowledge.
Emphasis is placed on: (1) Models for decision making; (2)
Interaction between agents through markets; (3) Market structures;
(4) Gains from trade, and (4) The role of government. Course
objectives are achieved utilizing economic models and through
participation in interactive decision making exercises, designed to
help the student understand the relationship between "behavioral
models" and "behavior".