|This course teaches the basic principles of modern microeconomics and their application to business decisions. The course will cover the following topics: the economic determinants of consumer choice; the behavior of firms in competitive and monopolistic settings; the effect of market structure on prices, production, and profit; the strategic aspects of pricing; the effect of incomplete information and uncertainty on the behavior of consumers and firms.|
|Optional Textbook: Microeconomics by Goolsbee, Levitt, and Syverson (2012).|
|Based on problem sets, a midterm exam, and a comprehensive final exam.|
|Students should have a good understanding of algebra and basic calculus. In particular, they should have the ability to analyze and understand derivatives. Every lecture makes use of these mathematical tools.
Description and/or course criteria last updated: 09/14/2012
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