EDPE 4056 Microeconomic Theory Applications Education
A survey of intermediate microeconomic theory combined with applications of relevance to the economics of education. At the theory level, the course covers utility maximization, income and substitution effects, labor supply, the analytics of market equilibrium, consumer surplus, cost minimization, production and cost functions, the determinants of the demand for factors of production, labor demand and the demand for skilled labor, market imperfections, monopoly pricing, monopolistic competition, externalities and public goods. Applications are included for each of these topics in the area of education. Offered annually in the fall.