This course prepares students for advanced course work in economics by providing a mathematically intensive overview of economic theory. Students take advantage of their knowledge of multidimensional calculus and constrained optimization techniques in order to understand the development and logical consistency of the most commonly employed economic models. Topics include: consumer preferences and utility function representations, consumer choice under a budget constraint, substitution and income effects, compensated and uncompensated demands, expected utility theory, risk and insurance, technology and production functions, cost minimization, profit maximizing firms, perfect competition, single-firm markets, game theoretic analysis of markets with few firms, introduction to general equilibrium models and the welfare laws.

Prerequisites: (73-100 or 88-220) and (21-256 or 21-259)