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ECON-103 Microeconomic Theory (Honors)
Fall only
This class is designed to formalize and extend the basic concepts of microeconomic analysis that students were introduced to in their micro principles course (Econ 001). Students will have seen many of the topics before – e.g., consumer theory, equilibrium analysis, externalities and public goods – but typically in a more informal setting. Some other topics, like game theory and asymmetric information, are likely to be less familiar.
The analysis will necessarily be mathematical, and will employ the tools of calculus, optimization, and solution of simultaneous equations. While this formalism is essential for a modern treatment of microeconomics (and, for that matter, macroeconomics), the presentations in class will also emphasize graphical techniques, especially for the building of intuition.
There will be a number of problem sets assigned as homework. These will be complemented with weekly recitations. Attendance at recitations is optional, but highly recommended
Students must have received an A or A- for Econ 001, and have taken
calculus
Credits: 4
Prerequisites: ECON-001, ECON-002 and MATH-035
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