Courses: Intermediate Microeconomic Analysis (ECONH300A01)
Microeconomic theory has developed around the analysis of Adam Smith's ""invisible hand"" conjecture. To test this conjecture, we model the behavior of economic actors (consumers and firms) and their interaction in different markets (for goods, capital and labor). These models allow us to investigate the conditions under which these markets work well, less well, or not at all. In the process, basic tools and concepts used in other areas of economics are developed. Many of the topics covered I Introductory Microeconomics (Econ 101) are studied more rigorously and in greater depth. New Topics, such as behavior under risk, insurance, and imperfect information, are introduced.
Prerequisites: Econ 101, 102 and Math 114 or econ 105 and one other Econ course and Math 114. Econ 100 can be applied with approval of the Chair.
Fulfills: SO I
Haverford, Stokes 016