| Description |
This course presents fundamental analyses of the ways that households choose consumption and work, that incentives drive suppliers to utilize labor, technology and other inputs to produce goods and services and that a market economy harmonizes its sectors through the price system. Against this backdrop, the roles played by public goods, environmental impacts, income distribution, monopoly power, taxes, welfare programs and entrepreneurship are considered. The differing perspectives of market participants, public policy and academic economics are all exercised. |