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 Pareto efficiency. Discussion of the role of times as it pertains to interest rates, discounting and net present value. Analysis of standard monopoly and simple oligopoly problems. Development of non-cooperative game theory, including strategic and extensive-form equilibria and Nash and sub-game perfect equilibria. Thorough training in intermediate theory would require both Econ 4011 and Econ 4021. Prerequisites: Econ 1011, Math 131, Math 132, and concurrent enrollment in, or prior completion of, either Math 233 or Econ 493 ("Mathematical Economics"). Students should also select the "A" subsection. This sub-section is a help session, and attendance is not required.
Course Attributes: EN S; AS SSC; FA SSC; AR SSC