Microeconomic Theory
General
Prefix
ECON
Course Number
606
Course Level
Graduate
Department/Unit(s)
College/School
Herberger Business School
Description
Theory of behavior of individuals and firms, optimization and markets.
Prerequisites
Credits
Min
3
Max
3
Repeatable
No
Goals and Diversity
MN Goal Course
No
Cultural Diversity
No
Learning Outcomes
Outcome
Explain economic assumptions about individuals’ preferences and apply optimization techniques to explain consumer behavior based on these assumptions.
Outcome
Derive and examine market demand based on the economic theory of the consumer.
Outcome
Construct a model that describes an individual’s decision when faced with uncertainty and apply this model to situations such as the decision to buy insurance.
Outcome
Utilize production functions to describe the relationship between inputs and output for firms in different types of industries, and use this to describe the cost structure these firms face.
Outcome
Apply optimization techniques and game theory to explain output, pricing, and other strategic decisions of firms.
Outcome
Use models of labor and capital markets to explain firms’ decisions to hire and invest.
Dependencies
Programs
ECON606
is a
completion requirement
for: