MICRO & MANAGERIAL
Reviews the theory of consumer behavior and the firm; output and price determination under different market systems; pure competition, pure monopoly, oligopoly and monopolistic competition; production and cost analysis; allocation of resource and distribution of income; comparison of behaviors of competitive, monopolistic and oligopolistic product and resource markets; constrained and nonconstrained optimization techniques and their applications to business decisions and business practices; welfare economics. This course counts as a Group B, Social & Behavioral Sciences General Education Requirements. Three hours lecture per week. Prerequisites: ECONOMIC.122 or ECONOMIC.212, ECONOMIC.121 or ECONOMIC.211 and ECONOMIC.156 or MATH.123 or MATH.125.