3 credits
Spring 2025 Lecture Distance Learning Upper Division
This course provides a practical and business-focused approach to microeconomic theory. The course covers topics from consumer behavior and demand, decision under uncertainty, production and cost, factor demand, market structure, pricing strategies, and strategic behavior. Emphasis is placed on the tools used to analyze decisions made by managers at firms. This is a required course for several majors in the School of Management and for the business economics minor, but is not intended for economics majors.
Learning Outcomes1Learn how to identify goals and constraints, and use inductive and deductive reasoning to draw logical conclusions.
2Recognize the nature and importance of profits in directing resources to their highest value in use.
3Understand how incentives shape individual and institutional decisions.
4Understand the functioning of markets in managing individual and social allocation of scarce resources.
5Recognize the importance of time value of money in making sound managerial decisions.
6Learn the value of "thinking at the margin" when we seek to reach optimal outcomes.
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made by Purdue students.