An intermediate treatment of microeconomic theory and applications. Topics include consumer behavior, production, costs, perfect competition, imperfect competition, factor markets, public goods, and market failure. NOTE: This theory course is designed for economics, finance, and actuarial science majors with analytic skills. It is required for all Economics majors. It is not recommended for non-majors who earned less than B- in Economics 1101 or 1102. Students who have received credit for ECON 3701 may not register for this course.