Course description

This course presents the basic analytical tools of microeconomics. We start by looking at the decision making of individual consumers, including decisions made in situations involving uncertainty. Next, we look at the ways firms make their decisions under varying market structures, including perfect competition and monopoly. Then we look at strategic behavior in imperfectly competitive markets, making use of concepts from game theory such as Nash equilibrium. Finally, we take up topics involving information economics and the economics of environmental externalities.

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