Department of Economics

Econ 3302 - Microeconomic Theory

Course Objectives and Assessment

Objective 1: Understand consumer behavior.

Outcome:

  1. The student will analyze preferences, utility, and indifference curves.
  2. The student will analyze budget constraints.
  3. The student will understand and analyze consumer optimization.
  4. The student will analyze income and substitution effects.

Assessment:

  1. Successful completion of problem sets and success on the exams.

Objective 2: Understand the process of production and costs.

Outcome:

  1. The student will understand how inputs are converted to output.
  2. The student will understand diminishing marginal product and returns to scale.

Assessment:

  1. Successful completion of problem sets and success on the exams.

Objective 3: Understand producer behavior in various market structures.

Outcome:

  1. The student will master profit maximization.
  2. The student will analyze perfect competition.
  3. The student will analyze monopoly and other forms of imperfect competition.

Assessment:

  1. Successful completion of problem sets and success on the exams.

Objective 4: Understand equilibrium and efficiency.

Outcome:

  1. The student will synthesize consumer and producer behavior to generate equilibrium.
  2. The student will understand generate equilibrium.
  3. The student will understand market failure and how more efficient outcomes can sometimes be achieved.

Assessment:

  1. Successful completion of problem sets and success on the exams.

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