Syllabus 382

Syllabus 382 - Economics 382 Intermediate Price Theory II...

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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 422-8904 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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Econ 382 Dr. Platt Pg. 2 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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Syllabus 382 - Economics 382 Intermediate Price Theory II...

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