ECON 502/5211 - Advanced Microeconomic Theory (3 cr.)
Prerequisites
Description
Axioms of consumer preferences and rational utility representation. Derivation of Marshallian, Hicksian and Engel demands. Consumer theory under uncertainty. Advanced theory of the firm. Market structure and competition including Counot, Bertrand, and Stackelberg competition for homogeneous and differentiated products. The Envelope Theorem and its applications including Roy, Sheppard, and Hotelling Lemmas. The equilibrium number of firms and business cycle behavior. General equilibrium theory.
When Offered
Offered in fall.
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