| Title change | Description change | Undergraduate |
| From: | ||
|---|---|---|
| Course Prefix & Number | Descriptive Title | Credits/Hours |
| EC 311 | Intermediate Microeconomics | 4 - 0 |
| To: | ||
| Course Prefix & Number | Descriptive Title | Credits/Hours |
| EC 311 | Intermediate Microeconomics I | 4 - 0 |
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Abbreviation for Class Schedule(20 spaces) INTERMED MICRO I |
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Current Course Description: Provides the student with a rigorous grounding in the methods and techniques of modern micro-economic analysis. The course develops the standard neoclassical theories of consumption, exchange and production under the assumption of perfect competition and full information. Situations in which information and markets are imperfect, including price discrimination, monopolistic competition, oligopoly, monopoly and cartels are also covered. Prerequisites: EC 202, MTH 111 and sophomore standing |
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New Course Description: Provides the student with a rigorous grounding in the methods and techniques of microeconomics, with a focus on market equilibrium and consumer theory. The model of indifference analysis will be developed and applied to household decisions, including labor supply. Other topics include behavioral economics and decision-making under risk and uncertainty. Prerequisites: EC 202, MTH 111 and sophomore standing |
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Justification for changing the course (e.g. alignment with other institutions, program revision, etc.): An examination of the material covered in EC 311 for the past five years indicates that the current four credit course does not allow sufficient time to adequately cover the theory and applications of both consumer theory and producer theory. The two options are to eliminate all applications and focus entirely on theory, or to devote additional course time to these topics. We are proposing the latter, dividing the material into two courses, with EC 311 focusing on consumer theory and its applications. A new course, EC 312 (Intermediate Microeconomics II), will focus on producer theory and its applications. |
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Students/Program affected: Economics majors and minors |
| Step | Approver | Decision | Timestamp |
|---|---|---|---|
| 1 - Department | Hamid Bahari-Kashani | Approved | January 14 2011 |
| 2 - Division | Hamid Bahari-Kashani | Approved | January 18 2011 |
| 3 - Division Curriculum | Kristina Frankenberger | Approved | January 19 2011 |
| 5 - Curriculum Committee | Robert Monge | Approved | February 09 2011 |
| 6 - Faculty Senate | Gavin Keulks | Approved | March 08 2011 |
| 7 - Dean | Stephen Scheck | Approved | March 15 2011 |
| 8 - Provost | Kent Neely | Approved | March 16 2011 |