This course teaches the basic principles of modern microeconomics and illustrates their application to business decisions. The course will cover the following topics: supply and demand; consumer choice; firm behavior, including pricing and production, under different market structures; and the effects of uncertainty and incomplete information on firm and consumer behavior.

Students should have a solid understanding of algebra and basic calculus, including the ability to analyze and understand derivatives.

Optional textbook: Microeconomics by Goolsbee, Levitt, and Syverson.

Based on problem sets, a midterm exam, and a final exam.