ECO520: MICROECONOMIC THEORY AND POLICY

Learn how markets work (or fail), how people and businesses make economic decisions, and how government interventions affect the economy.

This course examines in depth how markets work (or fail to work), how people and businesses make economic decisions, and how government intervention in various markets affects economic outcomes. We study supply and demand and the allocation of resources, price controls (including the minimum wage), taxation and its effects on consumers and producers, income distribution, and environmental regulation. We also discuss market structures (competition, monopoly, oligopoly) and their implications for business behavior, financial markets, and international trade and protectionism. Open to seniors. Prerequisite: ECO510 or permission of the instructor. Offered: spring term.