The course provides an introduction to a core area of economics known as
microeconomics. It considers the operation of a market economy and the problem
of how best to allocate society's scarce resources. The course considers the
way in which various decision making units in the economy (individuals and
firms) make their consumption and production decisions and how these decisions
are coordinated. It considers the laws of supply and demand, and introduces the
theory of the firm, and its components, production and cost theories and models
of market structure. The various causes of market failures are assessed, and
consideration is given to public policies designed to correct these market
failures.
- Giáo viên: My Hanh Pham Thi