The Concept of Economic Efficiency in U.S. and World Markets Examination of the efficiency of markets, monopoly, and government. U.S. and international case studies are used to investigate the concept and determination of value as it applies to economic efficiency.
Price theory is used to explain what economists mean by efficiency and how it is assessed.
Class Description Students gain an appreciation for the uses and limits of economic theory. The course provides a critical understanding of the concept of efficiency, a concept that drives much economic analysis. Class uses lectures, problems, and in-class quizzes. Recommended preparation This course is not appropriate for students who have taken microeconomics recently. Class Assignments and Grading Class involves short essays, exams and group quizzes in class.