You have now mastered a great deal of knowledge about how consumers and firms make decisions, how the market works, and how government policies influence market outcomes. In this course, Applied Microeconomics, I will first introduce you to more advanced theories of consumers, firms, strategic interactions, and the working of the market. Equipped with this advanced understanding, we will then read many classic as well as contemporary applications of microeconomic theories in analyzing real-world problems.

Macroeconomics is a core branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. Why do some countries get rich and some others stay poor? Why do economies boom and bust? Why do prices tend to go up over time, sometimes very fast? Why are financial crises so devastating, and why are some people afraid that Bitcoin is going to trigger one? These, and many others, are questions that macroeconomics aims to answer. In the first year, you learned fundamental concepts and theories in macroeconomics. This course, Applied Macroeconomics, aims to equip you with a systemic conceptual framework of the macroeconomy, an in-depth understanding of macroeconomic data, and analytical skills needed to apply this framework to understand important real-world macroeconomic phenomena.