This class will be offered in-person.

This course has three objectives. First, it studies how markets function. Second, it provides a rigorous understanding of basic microeconomic theory that is important in many core and advanced Booth courses. Third, it helps students develop analytical skills. Topics include consumer demand, firm supply and industry behavior, government regulation of markets, introductory game theory, pricing strategies, and network effects, time permitting.

Students should have an understanding of basic calculus (derivatives).

Textbook and selected readings.

Based on problem sets, midterm and final exam.