EC-311 Intermediate Micro Theory
Theory of consumer behavior and demand. Theory of production and costs of production. Theory of the firm, and price and output decisions in different market structures, i.e., under perfect competition, monopoly, monopolistic competition and oligopoly. Decisions relating to pricing and employment of various inputs (labor and capital) under perfectly competitive, and less than perfectly competitive, resource markets. Cost-benefit analysis. Includes treatment of calculus and tools required for optimization. Required of all majors in Economics. Normally offered every semester.
Prerequisite
EC 101 (or EC-103) and
EC-102