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Prerequisites: Multivariate calculus and one course in probability theory. Thorough background in microeconomic theory at the intermediate level. Students may receive credit for both API-111 and API-101/API-105 only if API-101/105 is taken first. API-111 and API-109 cannot both be taken for credit. Also offered by the Economics Department as Ec 2020a and by the Business School as 4010.