This course helps students develop a deeper understanding of microeconomic theory, on which much of economic analysis is based. We will study the behavior of fundamental economic units (consumer and the firm) and its implications for the production and distribution of goods and services. We will discuss a variety of topics including analysis of commodity and factor price determination, choice under uncertainty, oligopoly, industrial organization, pricing, resource allocation, intertemporal consumption, labor supply, externalities, public goods, income distribution and welfare economics.

ECON 1110, MATH 1210 or equivalent intro-level microeconomics and first-year calculus course.