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INTRODUCTION TO MICROECONOMICS (220:102:B7) Summer 2011 Instructor: Cheng Gao Office: NJ Hall 404 College Ave. Campus, 75 Hamilton Street Office Hours: Monday and Wednesday 4-5pm or by appointment Email: [email protected] Course Meeting Times and Location Monday and Wednesday 6:00-10:20pm 05/31/2011 - 07/08/2011 Cook/Douglass Lecture Hall 102 Course Description In Introduction to Microeconomics students will learn the meaning and relevance of basic economic concepts including opportunity costs, positive and normative economics, scarcity, tradeoffs, comparative advantage, marginal analysis, efficiency and equity, and market failure. Students will learn: 1. Basic economic concepts including opportunity costs, scarcity, positive and normative economics 2. How to analyze production possibilities of firms and countries, the sources of their comparative advantages, and gains from trade 3. How to use the supply and demand model to understand how markets work. 4. How elasticity is calculated and its relevance to understanding markets. 5. How to analyze consumer behavior with respect to decisions about consumption, savings and employment. 6. How to analyze decisions firms make about pricing, output, employment and investment. 7. How to analyze the behavior of firms in alternative market structures including perfect competition, monopoly, monopolistic competition and oligopoly. 8. How to apply basic game theory to strategic interaction between companies and
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This note was uploaded on 10/23/2011 for the course ECONOMICS 102 taught by Professor Perry during the Spring '09 term at Rutgers.

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