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Explore microeconomic theory through this comprehensive university-level course covering market structures, factor markets, and welfare economics. Begin with firm theory and supply analysis, examining how individual firms make production decisions and how industry supply curves are formed. Study perfect competition as a benchmark market structure, then progress to monopoly theory including basic monopoly behavior, price discrimination strategies, and product design decisions. Analyze regulation of monopolies and assess market failures through externalities. Investigate factor markets by learning how payments are determined according to productivity principles. Conclude with elementary general equilibrium theory that shows how all markets interact simultaneously, and welfare economics that evaluates market outcomes from a social perspective. The course includes both regular-paced and accelerated "turbo" versions of key lectures to accommodate different learning preferences, covering essential topics like industry rents, market regulation, and the distribution of income throughout the economy.
