Economics 101

Introductory Economics

Economics 101
3
4
Math 090
English 098

This course provides an introduction to the principles of economics for students with no background in the subject. Throughout this course students will be asked to consider the “Economic Way of Thinking”. How are the choices of many self interested individuals coordinated in a market? Topics include a) Microeconomics: demand, supply, equilibrium, elasticity, sunk cost vs marginal cost, comparative advantage and the problem of market power; and b) Macroeconomics: aggregate statistics, money, Classical vs Keynesian theories of coordination, fiscal and monetary policy, exchange rates, and the balance of payments.