APEC5151: Applied Microeconomics: Firm and Household

The course provides a mathematical treatment of cost -benefit analysis in terms of the theory of how prices, income, preferences, and other factors affect consumer choices and the demand for goods and services. It also includes treats the theory of how prices, technology, and other important factors affect producer decisions, the supply of goods and services, and the demand for productive resources. This demand and supply analysis is then combined to explore the theory of price determination in competitive and noncompetitive markets. The optimization theories and economic models are developed without and with uncertainty. prereq: (APEC 3001, Math 1142 or Math 1272, and Stat 3011 or Sco 2550) or equiv or grad student or instr consent

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