College of Arts and Science, College of Business
(cross-leveled with ECONOM 7351). Theory of rational behavior in consumption, production, and pricing decisions of households and firms. Partial equilibria in product and factor markets under competition, monopoly, oligopoly and monopolistic competition. A brief introduction to general equilibrium and welfare economics is provided. Calculus is employed. No credit for students who have completed ECONOM 3251. Prerequisites: (ECONOM 1014 or ABM 1041 or ECONOM 1000 or ECONOM 1051) and (MATH 1400 or MATH 1500) or equivalent.