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Faculty: Christopher Herbert
The course covers core concepts in microecomics. The first half covers skills for predicting market behavior, including supply and demand and the behavior of firms and consumers. The second half examines the rationale for government intervention in markets, including problems of information, monopoly, externalities, and collective or public goods. The course generally alternates lectures and case discussions. The A and B sections cover the same core topics and have common problem sets and exams. With a few exceptions, they also use the same cases, with the A section placing slightly more emphasis on market regulation and the B section placing slightly more emphasis on urban planning applications.
API-105 is designed primarily for MPAs from the the Kennedy School and for MUP and MDS students from the Graduate School of Design but is open to other students as well. Regular MPP1 students may substitute the course for API-101 only with the permission of the API-105 instructor and the API 101 faculty course head. API-105 may not be taken for credit after having taken API-109 or API-111. API-105B is also offered by the Graduate School of Design as SES-05203.