Topics include theory of demand and consumer behavior including classical and indifference curve analyses; theories of production and cost; models for the following markets-competitive, monopoly, monopolistic competition, oligopoly, and inputs; general equilibrium; welfare economics; public goods; and risk.
Outcome 1: Employ budget constraints and consumer theory to analyze a wide variety of topics, including income effects, substitution effects, two-period models, team production, and the principle-agent problem.
Outcome 2: Use the models of perfect competition to analyze both short and long run equilibrium.
Outcome 3: Use the tools of game theory to analyze strategic pricing, output decisions, campaign spending, advertising, and so on.
Outcome 4: Explain and apply the models of microeconomics to topics covered in general interest news, topics of political interest, and to a current events.
Forbidden Overlap: due to an overlap in content, students will not receive credit for both PAM 2000 and ECON 3030.
ECON 1110 or equivalent.
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Previously offered classes
The next offering of this course is undetermined at this time.