Econ 201.10J

Econ 201.10J - Economics 201.10J Tuesday/Thursday...

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Economics 201.10J Tuesday/Thursday 10:00-11:15 a.m. Intermediate Microeconomics Fall 2009 Instructor: Dr. Frank Maddox 318 Seney Hall Phone: 784-8357 Office Hours 3:15-4:00(M/W); 1:30-2:15 (T/Th) Updated: Sept 2, 2009 Course Description : Econ 201 deals with contemporary microeconomic theory. Building upon concepts developed in the principles level course, Econ 201 formalizes the theory using mathematical as well as graphical analysis. The course is designed for students who wish access to material covered in higher level micro or business school courses; Econ 201 is typically taken by students who intend to take a variety of upper level economics courses such as international trade theory, labor economics, etc. Students who pursue a business curriculum will find that microeconomics provides the theory for many approaches to decision-making in the business environment. The course opens with a review of the market mechanism familiar from the principles course in micro. Next, a model of consumer behavior is generated to provide the basis for the demand curve of the market mechanism. This consumer model, which is based upon the utility maximization principle, is presented graphically using indifference curve analysis. The behavior of firms is examined next. The short-run production function and resultant cost function of the firm is examined in detail. The four industry models of perfect competition, monopolistic competition, oligopoly, and monopoly are examined. In all cases the behavior of the firm is postulated given the assumption of a profit maximization motive. The long-run behavior of perfectly competitive firms is examined in order to construct the market supply curve of the market mechanism. Alternative motives to
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Econ 201.10J - Economics 201.10J Tuesday/Thursday...

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