Intermediate Microeconomics

Course Details
& Course Number
ECON 301, LEC 201
Class Number
Course Type
Undergraduate (Milwaukee Campus)
Meets Requirements
Sunwoong Kim
Course Dates

This online course deals with the fundamentals of micro-economic theory.  It provides basic framework of the modern economics, and will be useful in more specialized micro-oriented upper level undergraduate courses such as labor economics, public economics, environmental economics, international trade, urban economics, industrial organization, environmental economics, financial economics, and so on. It starts with basic market theory that deals with consumer choice and producer profit maximization under the perfectly competitive market system.  Then it moves to monopoly and other non-competitive market structure.  Inputs (factor) markets as well as output (product) market will be analyzed.  The idea of allocation and market efficiency will be emphasized.  Efficiency improving measures such as government regulations and public goods will be discussed as well. Econ 103 (introductory microeconomics) and college level algebra is required.  Knowledge of calculus will be beneficial, but not required to take this course. Students who want to pursue graduate courses in economics or public policy are recommended to take 506 (mathematical economics I), 606 (mathematical economics II), and 701 (master level microeconomics) after this course.