Intermed Microeconomic Theory

Catalog description

Analyzes the motives, constraints, and behaviors of consumers and producers. This course builds on EC 102 concepts with mathematical modeling. Students learn the foundations of supply and demand analysis, cost analysis, and pricing strategy; refinements of these foundations under different market structures and regulation environments; and basic market and policy research. Topics include consumer preferences, budget constraints, work incentives, and demand patterns; producer input-output technology, cost of production, factor demand, and product supply patterns; entrepreneurial behavior; market structures such as perfect competition, monopolistic competition, oligopoly, and monopoly; antitrust law and regulation institutions; property rights; and economic notions of voter behavior. <i>IMC</i>