4 hours. 3 hours lecture and 2 hours lab per week.
Intermediate Economic Principles
Course Description
Examines how consumers and firms make decisions and how those decisions shape market outcomes. Emphasizes optimization, strategic interaction, and the role of markets in allocating resources and generating economic efficiency under both competitive and imperfect market conditions.
Athena Title
Intermediate Econ Principles
Equivalent Courses
Not open to students with credit in AAEC 3580E
Prerequisite
(AAEC 2580 or AAEC 2580E or ECON 2106 or ECON 2106E or ECON 2106H) and (MATH 2110 or MATH 2110E or MATH 2260 or AAEC(ENVM) 3020 or AAEC 3020E)
Semester Course Offered
Offered fall and spring
Grading System
A - F (Traditional)
Student learning Outcomes
Students will formulate and solve mathematical models of consumer utility maximization and firm cost minimization, using calculus to derive and interpret optimal choices under constraints.
Students will analyze and evaluate strategic decision-making in oligopoly markets using game theory, including the identification and interpretation of Nash equilibria.
Students will quantify and assess welfare impacts of policy interventions, including deadweight loss, and evaluate outcomes using concepts of Pareto efficiency and surplus measures.
Students will critically evaluate real-world economic problems using microeconomic tools and assess the impacts of regulatory and trade policies.
