Markets consist of individual buyers and sellers, each facing choices. A buyer must decide what, and how much, to purchase. A seller must decide how much to produce, how to produce it, and what price to charge. But how are these choices made? In this course, we will explore this question formally, with the aid of economic models. The topics include consumer choice, profit maximization and cost minimization. The module requires a basic knowledge of algebra and calculus.
By the end of the course, you will improve your logical thinking and problem-solving abilities.