Overview
Description
Intermediate analysis of price determination, resource allocation, market structure, consumer behavior, producer behavior, market failure and government failure. Economic approaches to social issues and policy.
Requirements
Prerequisites
- MATH 176 or higher
ECON 102HON 220MATH 176
Original catalog text
Prerequisites
Prerequisite(s): ECON 102 or HON 220; MATH 176 or higher.
Units
Lecture3
Catalog Details
Offering
Offered: Every Fall and Spring
Terms
fall, spring
Attributes
Standard
Learning Outcomes
- solve baseline models of consumer and firm behavior used in microeconomic analysis.
- solve baseline models of price formation under several market structures in the long and short run.
- explain under what circumstances markets lead to economically efficient outcomes and under what circumstances they do not.
- explain how analysis of market level phenomena can be grounded in analysis of individual decisions.