|This course concentrates on the fundamentals of price theory and the analysis of markets. Both theory and its application to business decisions are stressed. Topics include: consumer behavior and the theory of demand; production and the theory of supply; market organization and equilibrium; the efficiency of competitive markets; externalities; the economics of information and behavior under uncertainty; monopoly and imperfect competition; pricing tactics; antitrust and the economics of regulation.|
|Probable text: Perloff, Microeconomics. Complete lecture notes are distributed each week. Assignments and problem sets are to be prepared by study groups of five or six students.|
|Based on problem sets, a midterm exam and a comprehensive final exam. Weekly review sessions are conducted by a TA. A review session precedes the final exam.|
|Ability to analyze and understand derivatives is absolutely required.
Description and/or course criteria last updated: 6/09
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