what is an intermediate economic thoery course

Why study Intermediate Microeconomics?

Intermediate Microeconomics is a core economic theory course that will further a student’s ability to apply models to explain economic decision-making by individuals and firms, how markets allocate resources, how the structure of markets affects choices and social welfare, and the ways that government intervention can improve or impair the functioning of markets.

What is Intermediate-Advanced Macroeconomics?

Oct 20, 2020 · This is an intermediate/advanced-level course that covers both the theory and applications of traditional macroeconomics. You will gain the tools needed to understand GDP, investment principles ...

What is the license for Intermediate Microeconomics?

Dec 16, 2018 · 1. Marshall used the term “economics” for “political economy” to make it similar to physics. He assumed that economics must be a science even though it deals with the ever changing forces of human nature. 2. Economics studies only economic aspects of human life and it has no concern with the political, social and religious aspects of life.

What is this course on macroeconomics about?

Oct 28, 2019 · Intermediate Microeconomics is a comprehensive microeconomic theory text that uses real world policy questions to motivate and illustrate the material in each chapter. Intermediate Microeconomics is an approachable yet rigorous textbook that covers the entire scope of traditional microeconomic theory and includes two mathematical approaches, …

What is economic theory course?

How hard is intermediate economics?

What is intermediate macroeconomics?

How do you learn intermediate microeconomics?

Is intermediate microeconomics useful?

Is intermediate macro or micro harder?

What do you learn in intermediate macro?

What does macroeconomics deal with?

Who coined the term econometrics?

Is microeconomic theory hard?

What is an intermediate good in economics?

What is the micro economy?

Course Description

This course focuses on the following topics: basic theory of consumer behavior; production and costs; partial equilibrium analysis of pricing in competitive and monopolistic markets; general equilibrium; welfare; and externalities. It is recommended for students planning to apply to graduate school in economics, accounting, or finance.

Find Courses by Topic

Sergei Izmalkov. 14.04 Intermediate Microeconomic Theory. Fall 2006. Massachusetts Institute of Technology: MIT OpenCourseWare, https://ocw.mit.edu. License: Creative Commons BY-NC-SA.

What is macroeconomics course?

Topics include neoclassical and new& growth theory, consumption and saving behavior, investment, and unemployment. It also includes use of the dynamic programming techniques. Assignments include problem sets and written discussions of macroeconomic events. This course is recommended for students planning to apply to graduate school in economics.

What is MIT OpenCourseWare?

MIT OpenCourseWare is a free & open publication of material from thousands of MIT courses, covering the entire MIT curriculum. No enrollment or registration. Freely browse and use OCW materials at your own pace. There's no signup, and no start or end dates. Knowledge is your reward.

What is the fundamentals of macroeconomics?

Fundamentals of Macroeconomics is a comprehensive course with no prerequisites beyond high school mathematics. It covers a wide range of topics, such as savings, the banking system, and economic fluctuations.

Why do people take economics classes?

Some people complete economics courses for personal rather than professional reasons. Understanding economic models and conditions can help you become more informed about public policy. It’s also a good way to approach your own investment decisions.

How long is Coursera?

This Coursera course is offered by the UCI, and it’s taught by an instructor from the Paul Merage School of Business. It takes around 25 hours to complete, and there are quizzes for you to work on in addition to the videos.

Is economics a gateway?

Taking an econ course serves as a gateway of sorts in a great number of cases. You may wish to continue your studies by taking a course in game theory, global economics and so on. Economics is a relatively accessible field. As a result, many people learn it later in life. Completing an economics course now could be a great way to keep your options ...

Is economics difficult to learn?

Understanding economics isn’t too difficult when you have the right study materials at your disposal. You should opt for an instructor who impresses you from the get-go, as there’s a wide variety of options out there.

Is it good to learn economics online?

Learning economics online is an excellent option. You can set your own pace and incorporate your studies into your current routine. However, some online classes don’t offer enough value. It’s important to gauge the quality of a course before you invest time and money in it.

Is there a better time to expand your economics knowledge?

There is no better time to expand your knowledge in the economics field .- especially when courses are up to 90% sticker price. Learn from top industry professionals and university professors for less.

What is intermediary goods?

Intermediary goods. Ex: Bricks, cement in construction work.

What is economic activity?

The motive behind these activities is to earn money for the satisfaction of their wants. The activities performed for earning money are called economic activities.

What is the aim of political economy?

Edwin Cannan, defined it as “the aim of political economy is the explanation of the general causes on which the material welfare of human beings depends”. I. Important Features of Welfare Definition. 1. Marshall used the term “economics” for “political economy” to make it similar to physics.

What is the deductive method?

Ans. Deductive method is a process from general to particular or from Universal to Individual.

What is macro economics?

2. It was developed by J.M. Keynes. 3. It studies the aggregates or Economy as a whole like National income, Employment, general. price level. 4. It is also called as “Income and Employment” theory.

Who was the first economist to study the science of wealth?

The classical economists beginning with Adam Smith defined economics as the science of wealth. He defined it in his famous book on ‘wealth of nations’, as “an enquiry into the nature and causes of wealth of nations”. Besides Adam Smith , other classical economists have also regarded economics as the study of Wealth.

What did Robbins say about economics?

Robbins made economics a positive science. As per Macfie, “economics is fundamentally a normative science, not merely positive science like chemistry". 5. Robbins’ definition is not applicable to a dynamic society where changes take place and the problem of scarcity of resources can be overcome with the passage of time.

What is the theme of the course Taxation?

Introduces the basic principles of taxation from an economic rather than an accounting perspective. The themes of the course are the incidence and efficiency of taxes —who ends up paying a tax and how people change their behavior to avoid a tax. The course will focus directly on the U.S. tax system and how it treats income from work, saving, and production.

What are the principles of microeconomics?

The principles of microeconomics are used to examine decision making under uncertainty: finance, learning, savings, contracts, and oligopoly.

What are the prerequisites for ECON 2010?

Prerequisite: Prerequisite: ECON 2010 and one of the following: MATH 1220, MATH 1320, APMA 1110, MATH 2310, MATH 2315 or APMA 2120.

What is the ECON 2020?

ECON 2020 - Principles of Economics: Macroeconomics. Studies the determinants of aggregate economic activity, the effects of monetary and fiscal policy upon national income, and economic policy toward unemployment and inflation. A full introduction to economic principles warrants completion of both Econ 2010 and 2020.

What is the study of the justifications of government activities?

Studies the justifications for government activities, the design of programs consistent with these justifications, the effects of major existing and proposed expenditure programs and taxes, and positive and normative analyses of political systems.

What is empirical industrial organization?

Empirical Industrial Organization examines various timely issues related to market structure, firm strategy, and market performance by combining the analysis of data and economic theory to develop and estimate econometric models.

What is the job of an economist?

Analyzes employment and wages, including the economics of education, unemployment, labor unions, discrimination and income inequality.

What is the course in econometrics?

Course provides a basic working knowledge of econometrics. Topics include: translation of economic theory into statistical models, statistical foundations of econometrics, preregression analysis bivariate and multiple regression techniques, hypothesis testing, multicollinearity, specification error, autocorrelation, errors in variables, identification, and simultaneous estimation. Sections 1 & 2 prerequisites: Econ 1011 & 1021 and Math 2200 or equivalent. Section 3 prerequisites: Econ 4011 and Math 2200 or equivalent. The Friday subsection "A" is for Section 03 only. This subsection is a help session, and attendance is not required. Please note: Requests for online registration will be wait listed, and students will be enrolled according to Economics major/minor status and student level (e.g., priority to Level 8 Econ majors).

What is economics program?

Economics. The Economics program explores the problems of a modern economy and introduces the methodological tools that 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, ...

What are the prerequisite courses for econ 4011?

Prerequisites: The prerequisite courses for Econ 4011 are Econ 1011 and Math 132. In addition, Econ 493 or Math 233 must be taken prior to or concurrently with enrollment in Econ 4011. The prerequisite courses for Econ 4021 are Econ 1021 and Econ 4011.

How many units are required for advanced economics?

Four advanced economics electives (12 units), at least two of which must have an Econ 4011 or Econ 4021 prerequisite.

What credits can you use for economics?

With instructor permission, students may use any of the following for economics elective credit: Econ 501, Econ 502, Econ 503, Econ 504, Econ 511, or Econ 513.

What is economics and society?

Economics and Society is a first-year seminar open to interested students, without prerequisites of any kind. Two to four topics will be chosen for in-depth discussion during the semester. Possible topics include but are not limited to inequality (domestic and international); globalization (pros/cons); "big banks" and their role in financial crises; wars and national security; health and disease; and capitalism and socialism. The seminar seeks to spread economic literacy among tomorrow's opinion leaders, improve their ability to analyze social issues, help them explain their viewpoint to others, and understand different opinions. (The course cannot be used for economics major/minor credit.)

What is behavioral economics?

Behavioral economics is an effort to incorporate ideas from psychology into economic models of behavior. We will focus on popular experimental anomalies, including the Allais and Rabin paradoxes, ultimatum bargaining, the centipede and public goods contribution games. We will examine the extent to which these are consistent with standard economic theory and how they may contradict it. The primary focus will be a critical examination of psychological theories of nonstandard preferences including loss aversion, probability weighting, reciprocity, fairness and present bias. Theories of incorrect beliefs and systematic biases such as money illusion and procrastination will be covered. Applications to the current economic crisis will also be discussed. The class will include an introduction to experimental methods in economics, including hands-on experience in the MISSEL laboratory. A sound grounding in economic theory is essential to the course. You must have successfully completed Econ 4011, and should be acquainted with basic optimization theory, expected utility theory, risk aversion, discounting and basic game theory including dominance, Nash equilibrium and subgame perfection.

What is econometrics course?

Description:This course in econometrics covers the tools that will enable students to conduct empirical analysis using economics data. The course examines the statistical techniques used in testing economic theories, estimating casual effects, and making predictions. Emphasis is placed on estimating a single equation (eg, a demand function) and the problems associated with such estimation. As part of the course, students will estimate equations using STATA, a statistical software package. Not open to students with credit in ECON 36000.

What is the purpose of the course on government in market economy?

The aim of the course is to provide an understanding of the reasons for government intervention in the economy, its financing via taxation, and how individuals respond to government action. Emphasis is placed on current US policy issues including environmental policy, Social Security, education policy, welfare programs, and healthcare.

What are the requirements for economics?

200-level courses provide an introduction to economics and are open to students of any major with no prerequisites. 300-level courses generally require calculus and completion of ECON 25100 and / or ECON 25200. 400-level courses are designed for students who have already completed the core economics courses. Some 500-level master's courses are available to advanced undergraduate students. Information about Economics Major

What do students learn in economics?

Description:Students learn about human behavior in economic environments, with a strong emphasis on classroom laboratory exercises. Topics considered include behavior in a variety of markets - for example, markets with price controls, markets for financial assets and auction markets - and behavior in social dilemmas that arise when people try to provide public goods voluntarily or when sellers try to conspire to fix prices. Students will also learn how people bargain with, trust each other, and show social preferences towards others. Decision-making and anomalies for risky and uncertain choices will also be covered.

What is the emphasis of the market analysis course?

Emphasis is placed on using theoretical models of firm and industry behavior to explain and analyze real-world examples of firm behavior.

What are the topics to be considered in labor supply decisions?

Topics to be considered include labor supply decisions, investments in human capital, compensating wage differentials, labor contract theory, unions, compensation programs, signaling in labor markets, the economics of unemployment, and government employment, retirement, and workplace safety.

What is the course on money?

Description: The course analyzes the economics of money, monetary systems, investments, and financial intermediaries in modern industrial economies. Topics considered include the origin of money and the banking industry, financial asset markets, the role of central banks, and the effects of various monetary policies. The theory will be presented side by side with current economic and financial news, and the students will learn how to track financial and economic data via The Wall Street Journal.

What is trade theory?

The concept of specialization is key to understanding how to maximize an individual's or country's wellbeing. Skills, resources, and knowledge are unequally distributed; it is the relative differences which drive trade.

What is the other agent in microeconomics?

This unit addresses the other main agent in microeconomics--the individual consumer. Similar to firms, individuals face constraints in the form of a budget. Time, available resources, and options are not static and make individual economic analysis challenging. Individuals also have unique preferences, and there is no one direct path to utility maximization.

What is general equilibrium?

General equilibrium brings together the problems of the firm and the individual. Equilibrium answers the questions at what price and quantity will consumers and firms make exchanges. Of note, an equilibrium may not always exist; alternative allocation mechanisms can be considered.

What is a monopoly in economics?

A monopoly is a single firm in an industry which, even in the absence of competition, still needs consumer demand to reach equilibrium. Unregulated monopolies are not efficient and charge higher prices than in a competitive market structure.

Is the free market always the best way to allocate scarce goods and resources?

The free market is not always the optimal way to allocate scarce goods and resources. Actions and choices can have unintended effects which can harm or benefit others. How to best manage these effects, known as externalities, depends on the specifics of each problem. Economists have a variety of tools to redress misallocation.