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Economics 382 — Intermediate Price Theory II
Winter 2009 — Section 2 and 3
Department of Economics, Brigham Young University
Lecture (Sec 2):
M W
12:05 – 1:20 pm
B060 JFSB
Lecture (Sec 3):
M W
3:00 – 4:15 pm
B060 JFSB
Website:
blackboard.byu.com
Professor
Teaching Assistant
Name
Brennan Platt
Office
149 FOB
Phone
4228904
Email
brennan_platt@byu.edu
Office Hours
T Th
2:00 – 3:30 pm
or by appointment
Prerequisites:
Students must have successfully completed Econ 380.
We will continue to use constrained
optimization throughout this course, so you should feel comfortable with Lagrangian problems.
Course Objectives:
The second semester of price theory is meant to expose students to a variety of formal models
that depart from the standard assumptions of perfect competition.
These market imperfections
include firms with market power, agents with limited information, actions that impose
externalities on others, and uncertainty in choices.
We will particularly focus on inefficiencies
created in these scenarios, and potential methods of and pitfalls in correcting them.
This course will also expand the student’s ability to formally model economic choices.
We will
reinforce mathematical skills in constrained optimization, and provide practice interpreting the
results of models.
Ultimately, the goal is to foster critical thinking about economic models.
This
is to say, the student should be able to recognize differences in the assumptions of various
models, evaluate the appropriateness of the assumptions, and determine how they will affect the
model’s predictions.
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Dr. Platt
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Course Learning Outcomes:
Each program at BYU has developed a set of expected student learning outcomes for each
degree program.
For our department, these are listed at
http://learningoutcomes.byu.edu
, under
“College of Family, Home and Social Sciences” and then “Economics.”
We welcome feedback
on the expected student learning outcomes.
Any comments or suggestions you have can be sent
to
econ@byu.edu
.
In this course, students should develop the following four skills.
To give a sense of how this
course contributes to a degree in economics, the relevant Economics Program Learning
Outcomes (PLO) is listed beneath each course objective.
From their experience in this class, students should become able to:
1.
Formally express and analyze economic models.
•
PLO:
Program graduates will be able to conceptualize a wide range of constrained optimization
problems in economics and related fields and will be able to apply formal mathematical analysis to
evaluate these problems.
2.
Understand the core microeconomic theories of imperfect markets.
•
PLO:
Program graduates will understand and apply intermediate microeconomic principles
including the model of perfect competition, price theory and their neoclassical extensions; and
graduates will be able to analyze behavior given changes in constraints, prices and costs.
3.
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 Spring '08
 Mcdonald,J
 Economics, Econometrics

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