Decision problems faced by the household and firm; theories of choice under conditions of certainty and uncertainty. Partial equilibrium analysis of competition and monopoly. General equilibrium analysis. Welfare economics: economic efficiency of alternative market structures, social welfare functions. Dynamics: stability of markets, capital theory. Seven-week course.prereq: 5151 or equiv, Math 2243 or equiv, concurrent registration is required (or allowed) in Math 5615 or concurrent registration in Math 8601, grad econ major or instr consent