ECO 304K • Introduction to Microeconomics-Honors
11:00 AM-12:00 PM
This course provides an introduction to the theory of how consumers and business firms behave in the market economy. The topics include demand and supply in a competitive market, optimal consumption choice by the individual household given its budget constraint, the producer's costs and output decisions, the demand for labor and other inputs, and economic outcomes under product demand structures ranging from perfect competition to pure monopoly. Each student writes a substantive paper in which microeconomic principles are used to analyze an industrial application.
There is a midterm exam, a final exam, and a research project.