Microeconomics explores the intricate decision-making processes of individuals and firms, focusing on their interactions within markets. This course aims to provide an in-depth understanding of how the market economy, commonly known as capitalism, can contribute to the improvement of people's well-being through individual planning and voluntary cooperation, in contrast to central planning. However, it also seeks to cultivate a critical mindset among students by examining the limitations of free market capitalism. By studying the instances where free markets fall short in achieving desirable outcomes, students will develop a nuanced perspective on the strengths and weaknesses of capitalism
This course explores the economic principles behind charging different prices to different customers for the same product or service. In the context of today's dynamic and monopolized markets, a comprehensive understanding of price discrimination is essential for businesses to optimize profits, for consumers to make informed choices, and for policymakers to enhance resource allocation. The course spans theoretical foundations, real-world applications, and ethical considerations, offering students insights into market dynamics and the impact of technology. By exploring these topics, students will refine their analytical skills and gain a deeper understanding of the intricate pricing complexities in the modern economy.
The course "Economics of Social Justice" examines the intersection of economic principles with key social justice issues. Through theoretical frameworks and empirical analysis, we will explore complex topics such as global poverty, the gender pay gap, discrimination, corporate monopolies, income inequality, and climate change.
Students will explore how economic tools can clarify tradeoffs and policy implications, analyzing social justice issues through an economic lens. A core focus will be cultivating the “economic way of thinking,” which promotes a structured approach to evaluating social justice arguments by applying key concepts such as tradeoff and opportunity cost, marginal analysis, incentives and equilibrium, and the distinction between correlation and causation.
This course encourages the exploration of diverse perspectives. It is not designed to advocate for a particular viewpoint or to reach consensus on complex issues. Rather, it aims to foster intellectual curiosity, open-mindedness, and analytical rigor. By understanding economic mechanisms behind social justice issues, students will be better equipped to assess policies, engage in informed debate, and contribute thoughtfully to societal discourse.