ECON 201 - Microeconomic Theory

Semester Offered: Fall and Spring
1 unit(s)

Economics is about choice, and microeconomic theory begins with how consumers and producers make choices. Economic agents interact in markets, so we carefully examine the role markets play in allocating resources. Theories of perfect and imperfect competition are studied, emphasizing the relationship between market structure and market performance. General equilibrium analysis is introduced, and efficiency and optimality of the economic system are examined. Causes and consequences of market failure are also considered. The department.

Prerequisites: ECON 101 or ECON 102, and one semester of college-level calculus.

NRO for Seniors Only.