This course offers an introduction to Economics. It emphasizes the fundamental principles of economic analysis, which are applied to understand the working of market economies. By the end of the course, students should be familiar with the methodology of economics, they should be able to make structured arguments about major economic issues, and they should know both the efficiency properties of markets and the main market failures.
  • Lecture 1: Consumers; Producers
  • Lecture 2: Competitive Equilibrium
  • Lecture 3: International Trade; Taxation
  • Lecture 4: Externalities and Public Goods; Monopolies
  • Lecture 5: Game Theory; Social Choice
  • Lecture 6: Asymmetric Information; Labor Economics
  • Lecture 7: Financial Markets; Macroeconomic Aggregates
  • Lecture 8: Money; International Macroeconomics
Recommended textbook: Economics, by Daron Acemoglu, David Laibson, and John A. List; Pearson.
Another useful reference: Principles of Economics, 7th edition, by N. Gregory Mankiw; Cengage.

Introduction to Economics (ECO101) provides students with the foundational concepts of economics. The course begins with the investigation of the individual behavior of households and firms. Subsequently, students review and develop a thorough understanding of the concepts of supply and demand, before investigating how markets function. The course also covers imperfect competition and other macherket failures, as well as macroeconomic aggregates and the role of the central bank.

Topics in Economics (ECO102) provides
an overview of how the concepts in economic
analysis are applied through the
real-life examples of scientific research
in economics. Students will learn how
theoretical and empirical methods in
economics are employed in the analysis
of diverse subjects, such as economic
growth, environmental regulation, public
policy, networks, firms’ behaviors, etc.
Topics are chosen from the themes in the
frontier of economic research.