ECON 3211 - Intermediate Microeconomic Theory 3 s.h.

The course is an examination of how the price system directs resource allocation in a market economy. The theory of consumer behavior and the theory of firm behavior are developed and used to develop the theoretical basis for the model of supply and demand. The concept of Pareto efficiency is used to evaluate the performance of a market economy. Firm behavior under perfect competition and imperfect competition is analyzed in order to establish the impact of market structure on resource allocation and the attainment of Pareto efficiency. A-E Only. Offered Fall and Spring.
LA
Prerequisite(s): ECON 1111 with a grade of “C” or better, and MATH 1050 or MATH 2230 .