318.603.01 APPLIED MICROECONOMICS FOR POLICYMAKING I
Introduces the basic principles of microeconomics by emphasizing applications to the solutions of public problems. Students examine how markets operate and the role of government intervention. Acquaints students with public versus private goods, externalities, information asymmetry and other issues. Provides a theoretical framework for addressing policy problems.
After completing this course, you should be able to:
Define the terminology of microeconomics;
Identify the basic tools in microeconomic analysis;
Apply the economic way of thinking to policy problems;
Explain how markets operate and identify welfare outcomes for consumers and firms;
Assess the different types of government intervention using the tools of supply and demand;
Develop creative and critical thinking skills by applying economic concepts to real world problems; and
Communicate economic analysis in verbal, written and mathematical formats.