Topic 1: Introduction to Economics
- Principles of Economics pertaining to Microeconomics
- Opportunity Costs, Trade-offs and Incentives
- Gains from Trade
Readings: Mankiw Chapters 1, 2, and 3
Topic 2: Supply, Demand and Markets
- Demand, Supply and Market Equilibrium
- Demand and Supply Elasticity
- Supply, Demand and Government Policies
- Market Efficiency, Taxation
Readings: Mankiw Chapters 4 through 8
Topic 3: Consumer and Production Theory
- Consumer Choice
- Firms and Production Choice
- Market Structures: Competitive Equilibrium to Monopoly
- Oligopoly and Game Theory
Readings: Mankiw Chapters 21 and 13 through 17
Topic 4: Market Efficiency and Market Failure (Time Permitting)
- Externalities
- Public Goods
Readings: Mankiw Chapters 9 through 11
