Students will study how various economic agents make their choices and decisions in a market environment, and the implications of those choices and decisions for the allocation of productive resources. This course is divided into four parts: consumer theory, producer theory, perfect and imperfect competition and supply & demand and applications. Topics include supply and demand, elasticity, consumer and producer welfare, firm production and costs, and market structures.

平时成绩(50%)，期末考试(50%)。