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Introduction to Microeconomics

Course Description

One of the two main goals of the course is to introduce you to the core concepts of microeconomics. You will learn the fundamentals of how economists model consumer and producer decision-making, starting with basic concepts such as consumer utility, income and substitution effect, demand, diminishing marginal returns, profit maximization, and supply. Then the course will show how the two sides of the market, consumers, and producers, interact with each other by introducing the concept of equilibrium.

A second goal of the course is to provide students with analytical tools. These tools will allow students to analyze the equilibrium and make statements about its efficiency. Students will also be able to derive what happens to the market equilibrium when the market structure changes, when the government interferes in the market through subsidies, taxes, and price floors, or when the market faces problems such as externalities and free-riding in the presence of public goods.

By the end of this course, you will:
• Understand the fundamental concepts and analytical tools of microeconomics, how consumers and producers make choices, and how those choices affect market outcomes.
• Learn both the benefits that free markets provide to society and their limitations addressing societal problems.
• Be prepared to study economics at the university level and better equipped to take the Advanced Placement (AP) examination in microeconomics.

Prerequisites

No prior knowledge or experience with economics is necessary. However, knowledge of mathematics at the Algebra II level is required.

Sections

One Section Available to Choose From:

Online sections of Pre-College courses are offered in one of the following modalities: Asynchronous, Mostly asynchronous, or Blended. Please review full information regarding the experience here.


Dates: June 27, 2022 - July 15, 2022
Duration: 3 Weeks
Meeting Times: M-F 3:30P-6:20P
Status: Closed
Format: On-Campus
Instructor(s): Luca Rizzotti
Course Number: 10206