Course Number: 91-803
Economic Principles Of Policy Analysis
This course is an introduction to the principles of microeconomics and their applications to public policy and managerial decision-making. Microeconomics is the study of how individuals and firms make choices, and how these choices interact in society. Economics shares with other behavioral sciences the general goal of explaining and predicting human behavior – whether that behavior is reflected in the actions of individuals, institutions, organizations or governments. The distinguishing feature of the economic approach is the emphasis on rational decision making under conditions of scarcity. This course is an introduction to the basic concepts and tools of microeconomics and their application in both managerial and policy contexts. We study how markets work (or why they might fail) and the implications for making sound management and policy decisions.
We will discuss the core conceptual tools of microeconomic and augment these discussions with relevant examples. We will use a combination of graphical, mathematical and informal analytical techniques as we introduce and use ideas from economics.