| Course ID: | ECON 8010. 3 hours. |
| Course Title: | Microeconomic Theory I |
Course
Description: | The theory of consumer behavior, the analysis of production and cost, and the determination of output level and input mix of the profit-maximizing firm under perfect competition and monopoly. |
| Oasis Title: | MICROECONOMICS I |
Semester Course
Offered: | Offered every year. |
| Grading System: | A-F (Traditional) |
|
| Course Objectives: | Using the analytical tools of calculus and matrix algebra, students will acquire an
understanding of the methods of comparative-statics analysis as applied to the
neoclassical theories of the firm and consumer behavior. Students will demonstrate
their knowledge through a series of problem sets, tests, and a final examination.
By the end of the course, students should be able to formulate and solve models of
the behavior of firms and consumers, using the methods of modern microeconomics. |
| Topical Outline: | I. Mathematics Review
II. Introduction
III. Theory of Production and Cost
IV. Theory of Consumer Behavior
V. Price and Output Determination
A. Perfect Competition
B. Monopoly
VI. Factor Price and Employment Determination
A. Theory of Derived Demand
B. Labor Supply
VII. Intertemporal Optimization
A. Savings
B. Uncertainty |