講義概要 /Course description |
Economics offers one of the most useful and powerful tools in understanding behaviors of social and economic agents in a variety of settings – yet, it is probably one of the least understood subjects by many in Japan. Economics is not a set of answers, but rather it is a method of reasoning. This course introduces microeconomics, which studies the decision-making of individual economic agents (i.e. consumers, firms, and governments) and how the interaction of economic agents affects the allocation of scarce resources. We will learn about supply and demand, consider some formal rules for decision-making, and study the behavioral underpinnings of market economies. We will apply economic reasoning to policy issues such as the minimum wage, rent control laws, taxation, environmental problems, and monopoly and strategic behavior. The main objective of this course is, however, for you to learn how to think like an economist. The course is successful if, and only if, at the end of the semester, you learn to pose an economic question in daily life, say, when watching talk shows and news on TV. |