Explore how individuals, businesses, and governments make choices when resources are scarce, and how markets and other institutions determine what gets produced, how it is produced, and who gets it. Develop core economic tools like opportunity cost, supply and demand, and market equilibrium to make sense of real-world issues such as prices, wages, housing, and market power. Examine consumer behaviour and how firms organize production under different market structures, and how to apply microeconomic thinking to topics like international trade, marginal decision-making, and the trade-off between efficiency and equity. The goal of this course is to become better equipped to analyze everyday economic questions and make more informed personal, business, and policy decisions.
