L11 Econ 4011 Intermediate Microeconomic Theory

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 time as it pertains to interest rates, discounting and net present value. Analysis of standard monopoly and simple oligopoly problems. Development of noncooperative game theory, including strategic and extensive-form equilibria and Nash and sub-game perfect equilibria. Thorough training in intermediate theory requires both Econ 4011 and Econ 4021. Prerequisites: Econ 1011, Math 132 and concurrent enrollment in, or prior completion of, either Math 233 or Econ 493 (Mathematical Economics).

Credit 3 units. A&S: SS A&S IQ: SSC Arch: SSC Art: SSC EN: S


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Admission Procedures

http://bulletin.wustl.edu/undergrad/admissions/

...upon completion of Econ 4011 with a grade...to bypass Econ 1011. Economics-Macro (L11) -- Test...

Economics

http://bulletin.wustl.edu/undergrad/artsci/economics/

The Economics program explores the problems of a modern economy and introduces the methodological tools economists use. It emphasizes the development of analytical models and their application to important economic, social and political issues such as inflation, unemployment, taxation, poverty, pollution, government decision-making and regulation. Our faculty, which is made up of leading teacher-scholars, includes specialists in: economic history, game theory, microeconomics, industrial organization, macroeconomics, monetary economics, political economy and public finance.