ECON201

With this study of how individual agents, both firms and households, interact in market situations to determine the price of goods and services, students gain a better understanding of how scarce resources are allocated. Intermediate Microeconomics is a more theoretical treatment of some of the topics covered in Microeconomics. The class will be concerned with learning tools of economic analysis, which are applicable to economic situations such as: consumer sovereignty, the labor/leisure tradeoff, the economics of information and monopsony power in baseball. The goals of the class include: learning the intermediate tools and terminology that economists use, developing a theoretical approach for analyzing consumer preferences, showing how altruism can be explained using utility theory, exploring the relationship between inputs and outputs and understanding how economic theory can explain everyday economic behavior.