Industrialization, urbanization, and economic growth in the global North. Locational patterns in manufacturing, retailing trade, and finance. Geographic dynamics of technical change, employment, business organization, resource use, and divisions of labor. Property, labor, and social conflict as geographic forces. Local, national, and continental rivalries in a global economy, and challenges to U.S. dominance.

This course is designed as a comprehensive overview of intermediate microeconomic theory. It covers a number of topics including consumer and demand theory, firm, production and cost theory, competitive market theory, imperfect competition, welfare economics, choice under uncertainty and information. All analysis conducted in the course relies on graphical and algebraic techniques.

The nuts and bolts of preparing a New Venture Plan and launching the venture will be explored in this twenty-fifth annual course offering. The course is open to members of the MIT Community and to others interested in entrepreneurship. It is particularly recommended for persons who are interested in starting or are involved in a new business or venture. Because some of the speakers will be judges of the MIT $100K Entrepreneurship Competition, persons who are planning to enter the Competition should find the course particularly useful. In the past approximately 50% of the class has been from the Engineering / Science / Architecture Schools and 50% from the Sloan School of Management.

This course emphasizes dynamic models of growth and development. Topics covered include: migration, modernization, and technological change; static and dynamic models of political economy; the dynamics of income distribution and institutional change; firm structure in developing countries; development, transparency, and functioning of financial markets; privatization; and banks and credit market institutions in emerging markets.