This way you get to know the TAs and reinforce what you learn in class by getting more individual attention. As an incentive to attend these review sessions, you can earn one percentage point per session attended to be credited towards the Final Examination grade. The times and locations of the review sessions will be posted. Finally, you are assumed, by registering, to be familiar with the University's Academic Integrity Code . Microeconomics studies the detailed parts of the market economy, which consists of consumers, firms, and governments, as well as their counterparts in the rest of the world.
Markets can work well and sometimes fail to work well.
To best understand how market economies work, and how they contribute to social welfare, we will proceed in steps. We then examine the outcomes of their interaction in the marketplace. Finally, we will also analyze some of the desirable and undesirable features of a market economy, and discuss the role of government and the merits of public intervention. To help you better understand how market economies operate and whether they promote or inhibit social welfare, we will apply the concepts to various social, economic, legal, and political issues, such as crime and punishment, child care, organ donations, affirmative action, minimize wage, unions, health care, welfare reform, taxation, regulation, antitrust violations, mergers and takeovers, stocks and bonds, intellectual property rights, trade, environment and endangered species, and more. The rest of the course, textbook, and readings, will not be understandable, or as enjoyable, if at all, unless you have the core tools and concepts sufficiently mastered.