| Introduction to Microeconomics: Honors
S201 | 1564 | Schmidt
The ability to make good decisions is often what separates successful
people, organizations, and countries from their less prosperous peers.
Microeconomic theory attempts to build models of how these different
decision makers may frame their environments in order to make wise
choices. We'll look at basic questions like: How might parents decide
to divide their time between work and family? When would a company
want to hire full-time employees instead of temporary workers? What
types of compensation schemes encourage employees to work roductively?
Should we be concerned that many industries, such as banking, are
experiencing a large number of mergers?
In order to answer these questions, we need a systematic way to look
at the decisions being made, and that is what microeconomic theory
provides. In this course, you will be introduced to some of the basic
tools economists use to analyze these questions. This instructor is
especially interested in connecting the course material to current
real-world happenings. In addition to standard classroom lectures and
discussion, students will be encouraged to explore interactive web
sites designed to expand their understanding of these topics.