New York University 4 credits Economics
Microeconomics is the study of decisions and choices made by people who are faced with scarcity of resources. It focuses on the decision making of the individuals, including individual consumer, individual firm and individual industry. In this course, analytical tools and methodology of microeconomic analysis are introduced. Both theory and real world applications are emphasized. Major topics such as the theories of consumers and profit-maximizing firms, perfect and imperfect market competition, and the role of government in maintaining an efficient and competitive market are discussed in detail.
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