ECON 502
Microeconomic Theory I

Credit: 4 hours.


(ECON 402) Introduction to the models and methods of modern microeconomic theory, concentrating on individual and firm decision making and on industry equilibrium; brief treatment of general equilibrium theory and welfare analysis. Topics include: consumer utility and demand theory; production and cost functions; firm supply, input demand, and price behavior; competitive, monopolistic, and oligopolistic industry analysis; and distribution theory. Prerequisite: ECON 302 and 303, or equivalent; calculus.