Microfoundations for Modern Economic Analysis

Why do national economies behave the way they do? The answers lie not in aggregate numbers, but in the millions of individual decisions made daily by consumers and firms. By completing this course, you will move beyond simple macroeconomic identities and gain the analytical tools necessary to evaluate complex economic policy from a foundational, micro-level perspective. What you'll learn: * Understand the core concepts of rational economic agents, utility maximization, and constrained optimization. * Analyze how firm decisions regarding production, investment, and pricing aggregate to determine market supply. * Master the role of expectations (rational versus adaptive) and information asymmetry in shaping market equilibrium. * Apply microeconomic principles to model aggregate labor supply, consumption behavior, and capital accumulation. * Examine the integration of behavioral insights to refine traditional models of choice under uncertainty. * Practice constructing simple general equilibrium models that link micro-level behavior to macro-level outcomes. The course begins by establishing the foundational terminology and mathematical concepts of microeconomics, then systematically applies these principles to model consumption, production, and market interactions, culminating in an introduction to dynamic macroeconomic modeling. This foundational course is designed for absolute beginners in advanced economic theory, students, and analysts seeking a rigorous, text-based introduction to the building blocks of macroeconomics. No prior advanced economic knowledge is required. Start building your rigorous foundation in economic analysis today.