This course introduces the principles of modern microeconomics and illustrates their application to business decisions. The course covers the following topics: supply and demand; the determinants of consumer choice; the pricing and output decisions of firms under different market structures; and the effects of incomplete information, uncertainty, and moral hazard on economic behavior.

Understanding of algebra and basic calculus, including derivatives.

Optional text: Goolsbee, Levitt, & Syverson, Microeconomics.

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