EC317 Intermediate Microeconomics
Prerequisites: EC 201, EC 202
Market exchanges result in prices for final goods and for inputs such as capital, labor, real estate, and minerals. This foundational price-theory course locates the causes of prices in the rational-choice theory of buyer demand and the optimizing actions of business supply. Living standards hinge on resource prices determining incomes and goods-prices determining purchasing power. Analytical forecasting, valuation, and investment skills are developed at more advanced levels. Public policy targets coordination and incentive limits of the price system emerging from monopoly, environment, public goods, risk, and information limits.