This course covers the principles and techniques of microeconomics theory that are most useful in analyzing economic aspects of public policy. It considers economic incentives and organizations; models of economic behaviour; the operation of markets; the price system and how it works; the consequences of market failures and interventions in markets; and policy objectives and instruments. Students will explore current economic research relevant to key areas of public policy, and will have an opportunity to apply economics to policy issues such as taxation, subsidy programs, education and health policy, and labour markets. Calculus is not required, but a good grasp of algebra is necessary. Required of all first year MPP students.