This course provides students with the techniques needed to model and analyze the behavior of individual economic agents. It introduces a variety of techniques that will allow students to solve business problems and make informed personal economic decisions. The course covers topics from consumer behavior and demand, decisions under uncertainty, production and cost, factor demand, market structure, pricing strategies, and strategic behavior. This is an upper-division economics course required for all economics majors and it serves as a foundation for higher-level elective courses in economics.
Learning Outcomes
1Analyze the means by which individuals and firms make rational choices when demanding and supplying goods and services.
2Describe the equilibrium outcomes of individuals and firms interacting in markets.
3Evaluate how markets allocate resources and explain examples in which markets fail to allocate them efficiently.
4Apply microeconomic theory to predicting the effects of public policy on economic outcomes.
5Practice analytical and quantitative reasoning skills.
Course ECON 340 from Purdue University - West Lafayette.
