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.
Athena 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
Syllabus