Intensive Studies - Fundamentals of Microeconomics [Seattle University] {Residential} (Session 2)

How much are you willing to pay for ice cream on a hot summer day? Who is responsible for the cost of pollution? Is there such a thing as a perfectly competitive market? Microeconomics provides insights into these questions as it examines how individual buyers and sellers make decisions about allocating limited resources. This course analyzes microeconomic theory and considers it in the context of today’s economic climate. You’ll begin by studying the fundamental concepts of supply and demand curves, price elasticities, market structure, public goods, and externalities. Then you and your classmates will build on this foundation to explore topics like competition, consumer choice, monopoly, oligopoly, and the role of government in promoting greater efficiency and equity. By applying mathematical concepts and critical analysis to economic theory, you’ll uncover how economists analyze and predict behavior of consumers and producers, and leave the course with a foundation of central topics in microeconomics and practical economic issues that affect us all.