Applied microeconomics

This unit applies microeconomic principles and empirical methods to explain and predict human behaviours and decisions. The emphasis is on the application of microeconomic theories to explain decisions by individuals and firms as well the applications of empirical methods to test the accuracy and relevance of various theoretical predictions. Some of the topics that will be discussed include the scientific nature of economics, individual decision-making processes on private and public goods and microeconomics of social and political issues.