ECON 101-01, Introduction to Economics, Fall 2007

Abstract

Welcome to ECON 101, the microeconomics portion of the introductory economics series at Rhodes. While the basic principles of microeconomics are most famously used by economists in the academic world, finance, and public policy, the “economic way of thinking” can be successfully employed by anyone. Economics has applications far beyond the stock market and tax policy. Like other social scientists, economists aim to explain human behavior but within a unique framework using special tools. In this course you will start building an economist’s toolkit that will allow you to study homo economicus, rightly understood. Specific topics of this course include demand for goods and services, production and supply of the same, trade, market failures, resource allocation, and income distribution.