ECON 2200: Intermediate Microeconomics explores key topics in microeconomics, including consumer behavior, firm theory, factor markets, and welfare analysis. It is a required course for advancing to higher-level economics studies. To enroll, students must have completed ECON 1101 with at least a C grade. Students who have taken ECON 2220 or ECON 2210 cannot enroll in this course.

Key Areas of Focus:

• Understand and apply key microeconomic principles: marginal vs. total concepts, supply and demand, and constrained optimization.
• Analyze consumer and producer surplus, market equilibrium, and comparative statics.
• Differentiate between normative and positive economic questions and apply elasticity concepts.
• Explain consumer theory, including preferences, utility, budget constraints, and demand theory.
• Describe producer theory, focusing on technology, production functions, and cost minimization.
• Understand different cost curves and their implications in the short and long run.
• Analyze market structures, including perfectly competitive and monopoly markets, and other structures if time permits.
• Evaluate market failures and social efficiency, including externalities, public goods, and asymmetric information.