Introduction to Microeconomics

Catalog description

This course provides an introduction to microeconomics, which attempts to understand the economy from an individual perspective. Consistent with the idea of a “principles” class, we will focus on a core set of fundamental concepts that help us to understand a broad range of microeconomic issues. Economics is the study of how individuals, firms, and markets make decisions when faced with situations of scarcity. This course will provide an introduction to the economic approach to analyzing the choices and resultant decisions under these conditions. Applying broader economic principles, we will see the consequences and repercussions of free trade and globalization, sources of unemployment, the role and effects of taxes in the economy, and the function of government intervention. Setting these principles against the backdrop of the Spanish and global economies, we will learn how economics provides useful tools for analyzing the world in which we produce and consume.