Microeconomic Theory

3 credits · Graduate credit

This course is designed for students in the MAE program. Basic models in the principal areas of microeconomic theory are covered: consumer demand, production and costs, product markets, factor markets, allocative efficiency, and corrections for market failure. Most of the course is spent studying the use of these tools in the analysis of specific microeconomic policy problems. Application of theory to current policy problems is stressed, and a substantial amount of class time is devoted to exercises based on such problems.