The course discusses behaviors of households and firms, the way they make choices to maximize their objectives from limited amount of resources available to them. The consumer theory analyzes buying behavior of consumers, whereas the producer theory analyzes selling behavior of producers. The third part of the course evaluates market's performance in allocation of resources and examines roles of government whenever market fails to efficiently allocate resources.
Students take three exams on the dates given below.
Examinations will be scored two ways. The higher of the two scores will be considered for grading. No makeup examination shall be given. If you miss one of the first two exams, that would be the exam dropped. You should not miss Exam 3 and not more than one exam.