Introduction to Economics

Abstract

The course begins with introductory topics in microeconomics: the analysis of individual economic decision-making units, such as firms and households, and the market in which they exchange goods and services. We examine several market structures: perfect competition,monopolistic competition, monopoly, and oligopoly, before briefly discussing scenarios in which markets may fail, such as in the presence of externalities.We then turn to macroeconomics: the study of the economy as a whole. Focusing on the United States, we will survey topics such as unemployment, inflation, growth, and the tools used by governments to impact the economy. We will also discuss the role of monetary policyin trying to control inflation while encouraging robust economic growth