API 5100 Economics of Public and International Affairs (3 units)
The foundations of macroeconomics and microeconomics. Topics covered in microeconomics include: the consumer and the firm; supply; demand and the role of prices; competition and the invisible hand; public goods and externalities; transaction costs and property rights; income distribution and the tax system; free trade. Topics covered in macroeconomics include: unemployment, inflation and the monetary system; fiscal and monetary policy; growth, development, and living standards.
Course Component: Seminar