| 1 | Ability to analyze consumer behavior, explain utility theory, and evaluate the formation of a demand curve. |
| 2 | Ability to analyze firm behavior, interpret production and cost functions, and explain profit-maximizing strategies. |
| 3 | Ability to identify market failures (externalities, public goods, asymmetric information) and evaluate proposed solutions. |
| 4 | Ability to analyze pricing mechanisms (flexibility, price discrimination) and compare the strategies of firms in different market structures (monopoly, oligopoly). |