Microeconomic Theory -

This course presents the basic analytical tools of microeconomics. We start by looking at the decision making of individual consumers and ask how these decisions can be optimized or improved. Next, we look at the ways firms make and coordinate their decisions under varying market structures, including perfect competition and monopoly. Then we look at strategic behavior in imperfectly competitive markets, making use of concepts from game theory such as Nash equilibrium. Finally, we take up topics including bargaining theory, information economics, environmental externalities, and public goods. (4 credits)

Prerequisite(s): ECON E-10a, or the equivalent; MATH E-8, or the equivalent, or a satisfactory placement test score. MATH E-15 recommended for the fall term section. Proof of English proficiency is required of students whose native language is not English.