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Course Catalog

318.603.01 Applied Microeconomics for Policymaking

Health Policy and Management
1st term
3 credits
Academic Year:
2019 - 2020
East Baltimore
Class Times:
  • Tu Th,  3:30 - 4:50pm
Auditors Allowed:
Yes, with instructor consent
Grading Restriction:
Letter Grade or Pass/Fail
Matthew Eisenberg
Course Instructor :

Introduces policy students to the theories, concepts, terminology and tools of microeconomics as it relates to the examination and analysis of public policies. Students gain new vocabulary to describe decision-making behavior of people, households, firms and governments. Students learn and apply theories of supply and demand, elasticity, utility-maximization and other concepts to examine and better understand public policy issues. Students finish the course with an understanding of economic terminology and theories, will be able to use economic tools to examine decision-making and apply the concepts, terminology and tools to various policies and problems.

Learning Objectives:

Upon successfully completing this course, students will be able to:

  1. Describe the basic tools used in microeconomic analysis
  2. Explain the key terminology and concepts of microeconomics
  3. Utilize supply and demand models to evaluate different pricing policies including taxes, price ceilings and price floors
  4. Discuss the role of “the economic way of thinking” in the context of public policy
  5. Use the utility maximization theory and 2-D model to understand consumer behavior
  6. Describe how markets operate and identify welfare outcomes for consumers and firms
  7. Review market operations and identify welfare outcomes for consumers and firms
  8. Examine common market failures and their application to public problems related to transportation policy (congestion, public transportation access), environmental health (obesity, pollution) and others
  9. Evaluate different government remedies/interventions for market failures using the tools of supply and demand
Methods of Assessment:

Homework (25%), Midterm exam (35%), Final exam (40%)

Enrollment Restriction:

undergraduates are not permitted in this course;

Instructor Consent:

No consent required