Analysis of competitive and noncompetitive markets in terms of efficiency of resource utilization.
Intermediate Microeconomics is a core economic theory course that will further a student’s ability to apply models to explain economic decision-making by individuals and firms, how markets allocate resources, how the structure of markets affects choices and social welfare, and the ways that government intervention can improve or impair the functioning of markets. The student will be given the opportunity to apply these models to describe real world current events.
Upon completion of the course, the student should:
- apply microeconomic models to explain economic decision making by firms and consumers;
- explain how resources are allocated efficiently and how the structure of markets may have an effect on this allocation;
- show how government intervention can improve or impair the functioning of markets;
- solve economic problems where agents are strategically interdependent on one another;
- apply these tools to real-world examples in a correct and proficient manner.
ECON 202/AREC 202 (Principles of Microeconomics) or AREC 202 (Agricultural and Resource Economics); MATH 141 (Calculus in Management Sciences) or MATH 155 (Calculus for Biological Scientists I) or MATH 160 (Calculus for Physical Scientists I)
Prerequisites: Introductory microeconomics, introductory calculus.
Textbooks and Materials
Please check the CSU Bookstore for textbook information. Textbook listings are available at the CSU Bookstore about 3 weeks prior to the start of the term.