The course runs through basic concepts in Microeconomics that are key frameworks in data-based decision making. With the benefit of applied statistical models widely used in microeconomics literature, such as treatment effects, diffs-and-diffs, and propensity score matching, microeconomic theories are re-accessed in terms of data analysis. Economics topics discussed will be

• Comparative advantage
• Consumer choice
• Demand/Supply curve estimation
• Diffs-and-diffs
• Partial effect

Some of the business cases that we will apply above economics topics are

• Hite-Jinro: Beer and spirit, are they complements?
• Top school admission: Is it really DNA? or is it money?
• Salary negotiation: Why my salary won’t go up?