A more detailed study of price theory, this course looks at the production decisions of firms and the consumption decisions of households. It gives an introduction to risk and uncertainty. It examines how the decisions of all the independent economic agents are co-ordinated by the price-system in purely competitive markets. The course also gives a variety of applications of micro-economic theory.
Prerequisites: (ECN 101 or CECN 104
) and (ECN 201 or CECN 204
) or Direct Entry