PAM 2000

Intermediate Microeconomics

Course Description

Course information provided by the Courses of Study 2014-2015.

Topics include theory of demand and consumer behavior including classical and indifference curve analyses; theories of production and cost; models for the following markets-competitive, monopoly, monopolistic competition, oligopoly, and inputs; general equilibrium; welfare economics; public goods; and risk.

When Offered Fall, spring.

Prerequisites/Corequisites Prerequisite: ECON 1110 or equivalent.

• Employ budget constraints and consumer theory to analyze a wide variety of topics, including income effects, substitution effects, two-period models, team production, and the principle-agent problem.
• Use the models of perfect competition to analyze both short and long run equilibrium.
• Use the tools of game theory to analyze strategic pricing, output decisions, campaign spending, advertising, and so on.
• Explain and apply the models of microeconomics to topics covered in general interest news, topics of political interest, and to a current events.

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