The Firm and Markets
A course in microeconomic theory applied to agricultural economics research. The theory of the firm is used to analyze production and resource use in agriculture. Resource allocation issues, risk responsive decision-making, and firm strategy on vertical and horizontal integration are studied. Consumer theory is used to analyze food purchase decision. How theoretical relationships are quantified and used in the analysis of public policy issues is emphasized.
Prerequisite(s): ECON*2310, ECON*2770, ECON*3740