Applied Microeconomics ((4 Credits))

Catalog description

Microeconomics studies incentives, constraints and allocation decisions taken by individuals and firms. In Applied Microeconomics, students will deepen their knowledge gained at introductory level and will apply it to real life cases. They will explore various economic tools, analytical techniques, sources of economic data and will perform in depth quantitative analysis of demand and supply, trends, optimal pricing, market activities, and competitive strategies. This study can overlap with Applied Macroeconomics as some of the initial concepts offer in-depth knowledge of the basic economic tools and models that are considered to be building blocks for any economic studies. Applied microeconomics focuses on analytical tools and techniques used to discuss and evaluate microeconomic concepts. It can also include a study and methods used in analysis of specialized economic fields such as real estate, sport, health, labor, agricultural, or industrial organization. It is not a substitute for Intermediate Microeconomics which builds on introductory studies by expanding microeconomic theories and concepts. The course satisfies economics skills in BME guidelines. Prerequisites: Principles of Microeconomics, an understanding of graphs and basic mathematical concepts.