CMISCourse Description
In its essence, economics is a social science that looks at the production, distribution, and consumption of goods and services. Microeconomics examines how individuals and/or businesses interact to make and sell goods and services. Much of the work done in Microeconomics deals with idealized situations, where we assume certain motivations (or what economists call incentives) will always hold true. Over the course of the year we will examine these incentives, and the behaviors they are thought to inspire, and then discuss where and when these relationships work and where they break down in the real world.