Methodology and scope of the neo-classical microeconomics paradigm; topics include the theory of competitive firms and consumers, general equilibrium, Pareto optimum, welfare theorems, non-competitive markets, uncertainty and asymmetric information. Prereq: 4001.01 or 501A, or equiv, and permission of economics director of graduate studies. Not open to students with credit for 8711 (804), 8712 (805), 704, or 705.