This course developes an analysis of a market economy from the perspective of neoclassical economic theory. Within this paradigm, individuals and firms are the units of analysis motivated respectively by utility and profit maximization. The roles of the individual as both consumer an dparticipant in factor markets, the firm as producer and employer, and the dynamics of different market structures are examined. Additionally, the role of government in the regulation of markets will be analyzed.
Students are stronlgy advised to attend all classes and do the assigned reading ahead of time.
It is recommended that students purchase the study guide and work through the appropriate problems. Grades will be based on 3 midterm examinations and a comprehensive final. Make-up exams will be given only if I am notified in advance and there is a legitimate excuse for missing the exam. There will be a total of 5 quizzes and assignments and you may drop the lowest. Campbell R. McConnell and Stanley L. Brue, Microeconomics, Principles, Problems, and Policies , 14th Edition, McGraw-Hill, Inc., 1998.