Microeconomics

3 units

Provides a rigorous analysis of the behavior of consumers and firms in competitive and monopoly markets; oligopoly markets are introduced. Consumer topics include preferences and utility, budget constraints, consumer optimal choice and demand curves. Firm topics include technology, cost minimization and profit maximization. The course concludes with price determination in monopoly and competitive markets, and an introduction to oligopoly and game theory. The focus of the course is on microeconomics as a decision making tool for consumers and managers.