AEM 6700 - Economics of Consumer Demand

Fall. 3 credits. Letter grades only.

Prerequisite: ECON 3030, MATH 1110, and AEM 4110 or equivalents.

M. Gómez.

This is an introductory course in microeconomic theory and its empirical applications focusing on consumer demand. It uses core of consumer theory and mathematical economics to develop and estimate a variety of econometric models of consumer behavior and demand response. Considers models of aggregate, discrete choice, and discrete-continuous demand models; and their applications using secondary data and large point-of-purchase data. Examines applications of experimental economics to study consumer behavior and demand response. Introduces time series models to forecast demand and analyze price transmission.

Outcome 1: Define the theories and the types of data available for estimating models of consumer demand.

Outcome 2: Develop a variety of econometric models that address fundamental problems in conventional econometric analysis of consumer demand.

Outcome 3: Analyze the literature on applied demand analysis.

Outcome 4: Demonstrate experience in framing, solving, and communicating solutions to economic research problems.

Outcome 5: Preparation for advanced courses in microeconomics.