ECON 202 Principles of Microeconomics

Overview of Course

Microeconomics is the study of human decision-making. This course will explore consumer decision-making and how changes in market forces, policies, and preferences impact decisions. Throughout our voyage, we will explore how consumer decision-making and market policies vary across the countries we visit. The course will also explore input and output decisions made by producers. We will analyze how factors like technological change, labor shortages, and policies affect firms’ decisions, and we will compare these factors and their effects across countries on our voyage. Lastly, we will discuss how the market, when working efficiently, can
effectively allocate goods and services across the economy and explore situations where markets might fail, including public goods, externalities and pollution, insurance markets, and non- cooperative environments.