Mar 28, 2024  
2017-2018 Undergraduate Catalog 
    
2017-2018 Undergraduate Catalog [ARCHIVED CATALOG]

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ECON 401 - Intermediate Microeconomic Analysis


Description:
Markets as mechanisms for organizing and directing human activities; production of goods and services; the allocation of labor, capital, and natural resources to various productive activities; and the distribution of income. Relationship between microeconomics theory and contemporary thought, practical problems and government policies.

Prerequisites:
Prerequisite: ECON 201.

Credits: (5)

Learner Outcomes:
Upon successful completion of this course, the student will be able to:

  • Use demand and supply models to analyze a variety of changes in market circumstances and government policies.
  • Develop theory of demand from assumptions concerning consumer preferences and income constraints.
  • Develop theories of cost and supply from underlying production relationships and input prices.
  • Analyze the effect of changes in market structure on firm behavior.
  • Describe the nature of economic efficiency and its relationship to market structure.
  • Use economic efficiency to analyze the effects of government policy on markets.
Learner Outcomes Approval Date:
1/18/07



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