Microeconomics

3 credits · Undergraduate

Consumer choice and firm behavior from the fundamentals of preference and production theory. Calculus-based optimization. Price-determination, analysis of market equilibrium, perfect competition and the effect of market power in monopolies and oligopolies. Efficiency, welfare, and market failures. Not open to students who have earned credit for 3010. Total credit for this course and 3010 will not exceed 3 credit hours. Credit hours reduced from second course taken (or from test or transfer credit) as appropriate. Prerequisite: 1010, 1020, and either MATH 1201 or 1301. [3] (SBS)