This course provides a thorough introduction to microeconomic theory. Starting from the basic concepts such as opportunity costs, tradeoffs, and gains from trade, etc., we will study supply and demand, elasticity, the theories of consumer behaviors, price controls, output and cost. Topics covered in this course will also include perfect competition, monopoly, imperfect competition, externalities, public goods and common resources, and factor markets. This course seeks to teach the students the economics way of thinking and how to utilize it in dealing with economic issues.

None.