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Economics 120: Microeconomics
American Business School Paris
This is the first course which is a study of modern economic theory. It covers the economic role of consumers, businesses, governments, banks and other institutions. It includes a thorough introduction to economic analysis which aids the understanding of economic behavior.
COURSE OBJECTIVES :
To introduce students to the basic concepts of microeconomics. The student learns about the theory of the firm and its activity under various types of competitive situations. The student also learns about consumer behavior under certain market conditions.
INSTRUCTIONAL METHODOLOGY :
The course consists of class lectures and outside reading assignments. Students will be expected to do class presentations on various assignments. Will be covered in class :
- Consumer Choice ; Production Cost
- Supply under Perfect Competitive Conditions
- Theory of Monopoly
- Industrial Organization, Monopolistic Competition & Oligopoly
- Pricing in Resource Markets; Markets for Capital & Natural Resources
- The Economics of Information & Uncertaintly
- Entrepreneurship and the Market Process
- Antitrust & Regulation; Externalities & Environmental Policy; Public Policy & Labor Markets;Unions, Discrimination & Equal Pay; The Problem of Poverty
Principles of Economics, Mankiw, Thomson/South Western, 3rd Ed., 2003
Economics Study Guide, Hakes/Mankiw, 3rd Ed., 2003
The final grade will be made up of class participation and homework assignments (25%), a mid-term test (25%) and the final examination (50%).