|The objective of this course is to teach the basic principles of modern microeconomics and their usefulness in making business decisions. The course proceeds by first considering the economic determinants of consumer choice, followed by an examination of the firms' pricing and output responses (in both competitive and monopolistic settings). The remainder of the course analyzes the effect of market structure and business strategy on prices, production, and profit, with additional emphasis on the presence of incomplete information. Examples, readings from the business press, and numerical problems will be used to illustrate various points in the course.|
|The primary (but optional) text for the course is Microeconomics: An Integrated Approach, 4th edition, by Besanko and Braeutigam. Lecture notes and supplementary readings will be provided online.|
|Grades are based on quizzes and problem sets (10%), midterm (40%), and a final exam (50%).|
|Students should have an understanding of algebra and basic calculus. More details can be found on the course Chalk site, or please contact Prof. Stole directly.
Description and/or course criteria last updated: 09/11/2013
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