14.04 Intermediate Microeconomic Theory
Analysis of consumer and producer decisions including analysis of competitive and monopolistic markets. Price-based partial and general equilibrium analysis. Introduction to game theory as a foundation for the strategic analysis of economic situations. Imperfect competition, dynamic games among firms. Failures of general equilibrium theory and their resolutions: externalities, public goods, incomplete information settings, signaling, screening, insurance, alternative market mechanisms, auctions, design of markets.
14.04 will not be offered this semester. It will be instructed by R. Townsend.
Lecture occurs 2:30 PM to 4:00 PM on Mondays and Wednesdays in E51-372.
This class counts for a total of 12 credits. This class counts as a HASS S.
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