AEM 6700

Economics of Consumer Demand

Course Description

Course information provided by the Courses of Study 2022-2023.

This is an introductory course in microeconomic theory and its empirical applications focusing on consumer demand. It uses core of consumer theory and mathematical economics to develop and estimate a variety of econometric models of consumer behavior and demand response. Considers models of aggregate, discrete choice, and discrete-continuous demand models; and their applications using secondary data and large point-of-purchase data. Examines applications of experimental economics to study consumer behavior and demand response. Introduces time series models to forecast demand and analyze price transmission.

When Offered Fall.

Prerequisites/Corequisites Prerequisite: ECON 3030, MATH 1110, AEM 4110 or equivalents.

• Define the theories and the types of data available for estimating models of consumer demand.
• Develop a variety of econometric models that address fundamental problems in conventional econometric analysis of consumer demand.
• Analyze the literature on applied demand analysis.
• Demonstrate experience in framing, solving, and communicating solutions to economic research problems.
• Preparation for advanced courses in microeconomics.

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