APEC8002: Applied Microeconomic Analysis of Production and Choice Under Uncertainty
2 Credits
The course provides a rigorous mathematical treatment of cost-benefit analysis in terms of 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. The optimization theories and economic models are developed with and without uncertainty. The course also explores the theory of price determination in competitive, monopoly, and monopsony markets. Part of four-course, year-long sequence (APEC 8001-2-3-4)prereq: [[8001 or ECON 8001 or ECON 8101], [[MATH 2243, MATH 2263] or equiv]] or instr consent