Intermediate Micro dives into consumer behavior, firm theory, and market structures. You'll explore utility maximization, cost minimization, and profit maximization. The course covers demand and supply analysis, production theory, and game theory. You'll also learn about market failures, externalities, and public goods. It's all about understanding how economic agents make decisions and how markets work.

Is Intermediate Microeconomic Theory hard?

Intermediate Micro can be challenging, especially if you're not a math person. It's definitely a step up from intro econ courses. The concepts aren't too bad, but the math can get tricky with all the calculus and optimization problems. Most students find it manageable with consistent effort, but it's not a blow-off class by any means. Be prepared to put in some work.

Tips for taking Intermediate Microeconomic Theory in college

Use Fiveable Study Guides to help you cram. 🌶️
Practice, practice, practice! Solve lots of problems, especially those involving utility maximization and cost minimization.
Draw graphs and diagrams. Visual representations help a ton with concepts like indifference curves and isoquants.
Form study groups. Explaining concepts to others can really solidify your understanding.
Stay on top of the math. Brush up on calculus if needed.
Use real-world examples to understand theories. Think about how firms like Amazon or Apple make decisions.
Watch "The Big Short" for a fun look at market failures and information asymmetry.
Read "Freakonomics" to see microeconomic principles applied to everyday situations.

Common pre-requisites for Intermediate Microeconomic Theory

Principles of Microeconomics: This intro course covers basic economic concepts and theories. It lays the foundation for understanding consumer and producer behavior.
Calculus I: This math course is crucial for understanding optimization problems in microeconomics. It covers derivatives and integrals, which are used extensively in intermediate micro.

Classes similar to Intermediate Microeconomic Theory

Intermediate Macroeconomic Theory: This course focuses on the economy as a whole. It covers topics like economic growth, inflation, and unemployment.
Game Theory: This class explores strategic decision-making. It's all about understanding how people and firms interact when their choices affect each other.
Industrial Organization: This course dives deep into market structures and firm behavior. It looks at how companies compete and how markets function in the real world.
Behavioral Economics: This class combines psychology with economics. It explores how people actually make decisions, often deviating from traditional economic models.

Economics: Focuses on understanding how individuals, businesses, and governments allocate resources. Economics majors study both micro and macroeconomic theories and their applications.
Business Administration: Covers a broad range of business topics including finance, marketing, and management. Microeconomic principles are crucial for understanding business decision-making.
Public Policy: Examines how governments develop and implement policies. Understanding microeconomics is essential for analyzing the impacts of various policy decisions.
Mathematics: Involves the study of quantity, structure, space, and change. Many economic models and theories rely heavily on mathematical concepts and techniques.

What can you do with a degree in Intermediate Microeconomic Theory?

Economic Consultant: Applies economic analysis to real-world problems. Economic consultants work with businesses and governments to provide insights on market trends and policy impacts.
Data Analyst: Uses statistical methods to interpret complex data. In this role, you'd apply microeconomic principles to analyze market trends and consumer behavior.
Policy Analyst: Evaluates the effects of existing and proposed policies. This job involves using microeconomic models to predict how policy changes might impact various economic agents.
Financial Analyst: Assesses investment opportunities and financial performance. Understanding firm behavior and market structures is crucial in this role.