This is an introductory course in Microeconomics. The focus is on how the individuals deal with the issue of scarce resources and decision making by consumers and firms. Topics include opportunity cost, supply, demand, markets, price controls and market failures. The students will be able to analyze a whole array of issues ranging from the economics of “Global warming and Pollution,” International Trade, Tariffs and Subsidies affecting the various countries of the world to the policies of strategic business decision- making.
On successful completion of this course (i.e. by passing this course), a student will be able to