Course Description

Course Name

Market and Economy

Session: VSOS3221

Hours & Credits

3 Credits

Prerequisites & Language Level

Taught In English

  • There is no language prerequisite for courses at this language level.


Course Outline
This course is an introduction to fundamental economic concepts and basic economic theory. As the first part of the economics discipline, this course is the study of microeconomics, which addresses the analysis of choices made by individual decision-making units, including consumers, households, and firms. Under the demand-supply framework in the market, we will consider trade-offs and choices and compare costs and benefits of actions. At the firm level, we will explore the production and market structure. Finally, the role of government policy in dealing with public goods and market failure will be examined.

Course Objective
This class aims at making you think like an economist. By understanding essential economic principles and analytical tools, you will be able to perform supply and demand analysis, evaluate firms’ performance and recognize government policy dealing with market failures.

The main textbook is Principles of Economics, 7th Edition by Gregory Mankiw.
Classes will use slides, which will be available on Blackboard.

*Course content subject to change