We will study two types of economics.

Microeconomics Macroeconomics

Microeconomics deals with individual decisions and specific markets.

Macroeconomics deals with aggregates -- the total of what happens in all markets.

We frequently use the same tools for micro and macro economic analysis.

But we will use them with different types of data.

Much of our emphasis will be on economic theory. At times it will seem abstract and somewhat unrealistic. Our goal is to help you develop your ability to “conceptualize” models that will help you make economic predictions and understand how the actions of markets and government agencies affect your economic well being.