Production Economics

3 cr · Graduate

Development of static microeconomic theories of the firm, functional forms, aggregation issues, productivity analysis, risk and uncertainty and in introduction to dynamics. The following are emphasized: a rigorous treatment of the models using duality; a critical understanding of the limitations and possibilities for generalizing the models; and relevance of the models for empirical research, especially in agriculture. Also offered as ABIZ 7940 by the Department of Agribusiness and Agricultural Economics. May not be held with ABIZ 7940 or ABIZ 7130.