| Course ID: | ECON 4010. 3 hours. |
| Course Title: | Intermediate Microeconomics |
Course
Description: | Resource allocation in a market economy, with an emphasis on the workings of the price system under competitive and monopolistic conditions. The welfare costs of departures from perfect competition are examined, and students are introduced to game theory and the economics of information. |
| Oasis Title: | Intermediate Microeconomics |
| Prerequisite: | (ECON 2106 or ECON 2106H or ECON 2106E) and (ECON 2105 or ECON 2105H or ECON 2105E) and (MATH 2200 or MATH 2250 or MATH 2250E or BUSN 4000 or BUSN 4000E) |
Semester Course
Offered: | Offered every year. |
| Grading System: | A-F (Traditional) |
|
| Course Objectives: | The class focuses on how resources are allocated in a market economy, with particular
attention given to the role of prices under competitive and monopolistic conditions.
Many of the topics covered in Microeconomics Principles are studied in more depth.
Important topics include models of consumer choice, efficiency and welfare, game
theory, the economics of information, and the conditions under which market outcomes
can be inefficient. |
| Topical Outline: | Introduction to Microeconomics
Consumer Choice
Income and Substitution Effects
Individual and Market Demand
Applications of Consumer Theory
Exchange, Efficiency, and Prices
Competitive Markets
Monopoly
Game Theory
The Economics of Information
Public Goods
Externalities |