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Analysis of household economic behavior, including derivation of demand functions, and of firm behavior, including derivation of supply frameworks; demand and supply interaction under various market structures and in factor markets; reliance on constrained and unconstrained optimization techniques when analyzing household and firm behavior. Corequisite: MATH 1232. Recommended for students pursuing the BS degree in economics.
In examining advanced concepts that characterize microeconomics, we will learn to define and operationalize economic ideas, derive supply and demand, identify equilibrium prices and quantities, predict the impact of changes in the microeconomy, and apply those skills in a variety of markets. In learning to construct and analyze abstract models, we will learn to construct models from data and description, and apply those models for predictive purposes. In doing so, we will learn to abstract from "the real world," and isolate only the most essential factors and relationships from confounding information, thus improving our ability to think critically.
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CCAS - GCR:Social & Behavioral
ESIA-Intl Econ Conc (2010)
ESIA-Intl Econ Conc (Pre 2010)
SEAS - Soc. Science Electives
Please be aware that co-requisites cannot be enforced.