This course is an introduction to economic analysis and select topics in microeconomics. It is designed for the student who has little or no background in economics, but wants to understand something about the analytical power of economics. The only requirement is an open mind. The economics of consumers, law, firms, taxation, industrial structure, the environment, gender, agriculture, and the family are all sub-branches of microeconomics that may be touched on during the course. Economic models are quite important tools to help us understand real world behaviors and in this course we will discuss some of the most important and widely accepted microeconomic models. Though deriving models using economic theory will be a main focus of the course, there will also be a major emphasis on applying those models to real world policy issues and problems. Examples of controversial topics that may be discussed include regulation and antitrust, pollution control, rent control, illicit drugs and taxation.
Field WorkCountry: China
Date: November 29, 2018
Visit to Shanghai Jiao Tong University (SJTU) to discuss the research of economics faculty members and receive a briefing on key economic development issues, international trade and investment and environmental protection in China. Lunch at Shanghai Jiao Tong University. Roundtable discussion with SJTU students and informal discussions on issues of common interest. Visit to the Shanghai Futures Exchange, where a variety of ferrous and non-ferrous metals, oil products and rubber futures are traded. Visit guided by SJTU faculty members and students, which will provide ample opportunity for one-on-one discussions.
- Appreciate how microeconomic models can be applied to the Chinese context
- Understand the critical role of the environment in economic policy
- Gain understanding of Chinese economic development.