Income elasticity (correction), theory of the Firm (Coase 37), more on profits, cost accounting, cost benefit, opportunity costs, economies of scope and scale, LR vs. SR profits, Creative Destruction (Schumpeter)
Microeconomic Theory with Application to Natural Resources by instructor David Zetland, PhD. This course covers the basic microeconomic tools for further study of natural resource problems. Theory of consumption, production, theory of the firm, industrial organization, general equilibrium, public goods and externalities. Applications to agriculture and natural resources.