Econ 4011 - Intermediate Microeconomic Theory

Institution:

Washington University in St Louis

Subject:

Description:

Analytic theory of consumer and producer behavior under perfect and imperfect competition. Coverage of demand theory (indifference curves and utility functions and preferences under uncertainty) including expected utility and risk aversion. Development of general equilibrium under pure exchange, including the concepts of competitive equilibrium and Pareti efficiency. Discussion of the role of time as it pertains to interest rates, discounting, and net present value. Analysis of standard monopoly and simple oligopoly problems. Development of noncooperative game theory, including strategic and extensive-form equilibria and Nash and subgame perfect equilibria. Thorough training in intermediate theory would require both Econ 4011 (401) and Econ 4021 (402). Prerequisites: Econ 1011 (Econ 103B), Math 131, Math 132, and concurrent enrollment in, or prior completion of, either Math 233 or Econ 493 (Mathematical Economics).

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.wustl.edu

Phone Number:

(314) 935-5000

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Semester

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