Introduction to Microeconomics

Nelson Esparza’s Introduction to Microeconomics is a customizable, turn-key online course package that studies how households, firms and governments make decisions and interact in domestic and world markets.

Students are introduced to models of supply and demand and how to apply them in analyzing economic problems. The course examines the efficiency of markets, concepts of trade, consumer choice, public sector, costs of production, industrial organization and factor markets.

The online course package integrates readings chock full of images, graphics, notes, and vignettes; automatically-graded exercises that can be integrated with gradebooks on most course management systems; interactive flash cards with key terms and definitions; interactive exercises; and more.

Introduction to Microeconomics teaches students to:

• understand the concept of scarcity and identify how it relates to the economic concepts of trade-offs, opportunity costs and rational behavior.
• use the model of supply and demand to demonstrate an understanding of how markets function.
• identify market failures and the alternative approaches to solving them and improving market outcomes.
• demonstrate how firms attempt to optimize their objectives in response to price signals under a variety of market structures in the short and long run