This course teaches the basic principles of modern microeconomics and illustrates their application to business decisions. This 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, incomplete information and moral hazard on firm and consumer behavior.

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

Optional Textbook: Microeconomics by Goolsbee, Levitt, and Syverson (2012).

The grades will be based on problem sets, a midterm and a final exam.