Pennsylvania State University 3 credits EEFE
This course covers basic principles of microeconomic theory with the use of calculus. The emphasis is on applied theory and problem solving, rather than formal proofs and derivations. By developing knowledge of microeconomic theory and economic reasoning skills, the goal of the course is to provide a foundation for more advanced courses and for applied research at the graduate level. Students who successfully complete this course should understand and be able to apply the microeconomic theory needed to solve applied economic problems in the following areas: Consumer choice and demand; Producer choice and supply; Choice under uncertainty; Strategic decision-making (game theory); The functioning of competitive and monopolistic markets; General equilibrium and welfare analysis.
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