Introduction to Microeconomics

In this course you will learn economics principles by first participating in experimental classroom markets and then studying the related economic theory and applications. The subject of economics is ideally suited to an experimental approach. By participating in economic experiments, you will be able to observe economic principles in action. After you have participated in an experiment and recorded the results, I will present economic theories designed to explain what happened in the laboratory. With the data collected from the classroom experiments, you can discover how well or how badly each theory works in predicting the experimental outcome. With this motivation, theories come to life and once they seem real, they become interesting.

Course will consist of 60hrs of in class work and 90 hrs of independent work outside the classroom.