Overview of Course

This course introduces essential microeconomic principles and uses real-world examples to understand how the market system works in allocating scarce resources. Topics include supply and demand, market equilibrium, consumer behaviors, and theory of pricing under a competitive market, monopoly, and other imperfect competitive markets. Students will also analyze real-world case studies and policy responses to address market inefficiencies and externalities. By examining how microeconomic concepts apply across diverse cultures and environments, this course equips students with practical knowledge for informed decision-making and global citizenship.