Econ 3302 - Microeconomic Theory
Course Objectives and Assessment
Objective 1: Understand consumer behavior.
Outcome:
- The student will analyze preferences, utility, and indifference curves.
- The student will analyze budget constraints.
- The student will understand and analyze consumer optimization.
- The student will analyze income and substitution effects.
Assessment:
- Successful completion of problem sets and success on the exams.
Objective 2: Understand the process of production and costs.
Outcome:
- The student will understand how inputs are converted to output.
- The student will understand diminishing marginal product and returns to scale.
Assessment:
- Successful completion of problem sets and success on the exams.
Objective 3: Understand producer behavior in various market structures.
Outcome:
- The student will master profit maximization.
- The student will analyze perfect competition.
- The student will analyze monopoly and other forms of imperfect competition.
Assessment:
- Successful completion of problem sets and success on the exams.
Objective 4: Understand equilibrium and efficiency.
Outcome:
- The student will synthesize consumer and producer behavior to generate equilibrium.
- The student will understand generate equilibrium.
- The student will understand market failure and how more efficient outcomes can sometimes be achieved.
Assessment:
- Successful completion of problem sets and success on the exams.