Listed in: Economics, as ECON-54
Jessica Wolpaw Reyes (Section 01)
This course develops the tools of modern microeconomic theory and notes their applications to matters of utility and demand; production functions and cost; pricing of output under perfect competition, monopoly, oligopoly, etc.; pricing of productive services; intertemporal decision-making; the economics of uncertainty; efficiency, equity, general equilibrium; externalities and public goods. A student may not receive credit for both Economics 54 and Economics 58. Requisites: Economics 11 and Mathematics 11 or equivalent. Limited to 50 students. First semester: Professor Reyes. Second semester: Professor TBA.