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ECON 1001

Introduction to Microeconomics

0.5 credit · Undergraduate

An introduction to the major tools and policy problems of microeconomics. Economic analysis is applied to a variety of contemporary issues such as taxation, pollution, wage determination, poverty, market power, and international trade.

2026

Topics

  • The core principles of economics.
  • Demand, supply and market equilibrium.
  • Elasticity - measuring and interpreting the response to price changes.
  • The impact of taxes and price controls on market outcomes.
  • Externalities and public goods - private and public solutions to market failure.
  • The labour market, wage determination and the economics of discrimination.
  • Market structure, market power and an introduction to game theory.
  • Firm profitability, market entry and exit, and price discrimination.
  • Review.

Prerequisites & course information

Precludes additional credit for FYSM 1003 . Lectures three hours a week, discussion groups one hour a week.

Sources