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This course provides students with an introduction to economic analysis and institutions. The course starts with developing simple graphical and mathematical models of decision making by individual economic agents: consumers, workers and businesses. Students are directed to analyze interactions between the agents in product and factor markets using the concepts of demand, supply, and equilibrium. It also introduces students to various market structures from perfect competition to monopoly, and describes the roles of government in market economy that include the pricing system in resource allocation and income distribution.
At the end of the course, students will be able to :
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