May 22, 2024  
College Catalog 2021-2022 
College Catalog 2021-2022 [ARCHIVED CATALOG]

ECON 361 - Intermediate Microeconomic Analysis

In microeconomics, we study how individuals make economic choices. We pose questions like: What influences consumers’ purchasing decisions? Will firms replace employees with machines if the minimum wage increases? How do concentrated markets (e.g., airlines, Amazon) affect consumers? If a firm can set different prices for different consumers, what set of prices will be optimal? How do risk and uncertainty affect investment decisions? What is the efficient amount of pollution? What role should governments play in providing resources for public goods like parks? In this course, we derive models of constrained choice to examine fundamental tradeoffs faced by individuals, firms, and governments when making economic decisions and to determine how such decisions influence market outcomes and well-being. This course counts as a Group E elective. Prerequisite(s): MATH 135  or MATH 137 , and one 200-level Economics course from Group E electives. Not open to first-year students except by permission of the instructor. C- or higher required for all prerequisites. Every semester. (4 Credits)