Microeconomics 1

Microeconomics (ECON 201) offers undergraduate students a focused exploration of the behaviors and decisions of individual economic agents, including consumers, firms, and markets. The course examines the factors influencing product demand and supply, the elasticity of both demand and supply and the interactions of consumers and producers within various market structures, and underscores the role of government in regulating markets and promoting efficiency. Key areas include consumer theory, theories of production and cost, and diverse market structures (perfect competition, monopoly, monopolistic competition, and oligopoly). The course is pivotal for those intending to pursue further studies in economics, public policy, or related disciplines, preparing them for more intricate economic studies and real-world applications.