Microeconomic Theory 1

Catalog description

This course presents the core analytical tools that economists use to model the behavior of consumers, firms, and markets. Topics include the analysis of supply and demand, consumer and producer behavior, competitive markets, monopoly, and pricing with market power. The concepts covered in this course underlie the methodology used in nearly all subfields of economics and provide a framework that can be used to analyze many practical decision problems and policy issues. Following completion of this course, students will be prepared to take upper-division elective courses in economics.