Economics

The objective of the university course is to convey intermediate concepts of microeconomic theory to students using explanatory, graphical and mathematical methods of analysis. The only prerequisite for this course is successful completion of Principles of Microeconomics, or equivalent. After completing the rigorous work requirements in this course, students should have a sufficient set of skills to thoroughly analyze interesting economic questions and to effectively participate in (i) advanced undergraduate economics courses, (ii) core graduate economic theory courses, and (iii) graduate courses in the school of business, including MBA programs. The emphasis of this paper is that economics is the study of the efficient choices made by individuals, including consumers, workers, owners of firms and social planners. Policy writers, students and wealthy philanthropists reading this paper might conclude that corporate board members, and higher education endowment strategists and budget executives, should focus on and enhance the effectiveness of the individual, conditional on the capacity and constraints, whether they are innate, financial or political.