Introduction to Economics II: Microeconomics (202-CN-15)
Instructors
Joseph Goodman
Joseph Goodman received a Ph.D. in Economics from Northwestern University in 2012. He currently works as a vice president at Compass Lexecon, an economic consulting firm that specializes in providing clear analysis to complex economic issues. Dr. Goodman concentrates on industrial organization, pensions, and finance. Outside of work he enjoy spending time with family and traveling.
Meeting Info
Wieboldt Hall 711: Wed 6:15PM - 9:15PM
Overview of class
In a market economy, the interaction of buyers and sellers in many connected markets governs how the economy's resources are allocated. Market prices are determined by the decisions of all consumers and firms but mostly taken as given by any individual. We will construct models of the behavior of consumers and firms, and of the determination of prices in markets under a variety of conditions. We will examine the properties of the allocations, especially their efficiency, and the role of the government in these matters.
Registration Requirements
Prerequisite: ECON 201.
Learning Objectives
(1) Provide a fruitful exposure to the current economic paradigm.
(2) Gain deeper intuition for economic concepts, including supply and demand, elasticity, gains from trade, public goods, common resources, externalities, labor markets, monopoly, monopolistic competition, and game theory.
(3) Improve your numeracy and problem-solving skills.
Teaching Method
Lecture, class participation, problem sets, readings.
Evaluation Method
Problem sets, two midterms, final exam.
Class Materials (Required)
Confirm course texts and materials by contacting instructor or viewing course Canvas site.
Microeconomics 2nd edition, by Acemoglu, Laibson, and List (ISBN 9780134492049). (MyEconLab not required.)