This introductory course explores the principles of microeconomics.
Microeconomics is the study of how we allocate scarce resources. In other words, "if we only have so much stuff to go around, how do we decide who gets what?" The "micro" part of the course title indicates that we are looking at individual behavior as opposed to the whole economy's behavior. We look at how an individual person decides what to consume, how much to work, how to spend his/her time, etc. We also look at how an individual firm decides how much to produce, what price to charge, what to produce, etc.
Fundamentally, this is a philosophy course. It teaches a philosophical paradigm--a way of looking at the world around you. This course is not about money, per se, or even business, per se, but rather about life and how to live it. If you spend the time to truly understand the material, you will never look at the world the same way again. But this requires some effort.
This course does not lend itself well to rote memorization. You will be learning about a way to analyze different situations and will be then expected to analyze situations you have never seen before. In order to help you do this, we will be spending all of our in-class time practicing this analysis.