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May 14, 2024
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EC 311 - Microeconomic Theory 3 Credit(s)
This course explores the economic behavior of households and businesses under various market conditions; consumer demand; production theory and costs of production; output pricing strategies in different situations; factor pricing and resource use; government regulation and resource allocation. Also explored are the effects of government policies on consumers and producers in competitive markets; pricing of public goods; and the use of subsidies and taxes for goods with external benefits and costs. Throughout the course, students may work in teams to solve problems. Prerequisite(s): MATH 117 and EC 104 or EC 202
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