A rigorous introduction to microeconomic analysis. We study choice under constraints, firm behavior, market equilibrium, welfare and efficiency, and market failures (externalities, public goods, information). Applications include pricing, auctions, labor markets, and policy evaluation.
Single-variable calculus, basic linear algebra (recommended).
Introductory economics.
Primary: Varian, Intermediate Microeconomics (latest ed.) or equivalent.
Supplement: Jehle & Reny (advanced), Goolsbee/Levitt/Syverson (applied).
Problem Bank: Weekly sets (posted here).
Software (optional): Desmos/GeoGebra for visualization; Python or R for simple simulations.
Week 01: Preferences, utility, and choice; budget sets
Week 02: Demand, Engel/Price effects, elasticity
Week 03: Revealed preference & duality (expenditure/cost minimization)
Week 04: Production, technology, and cost functions
Week 05: Profit maximization; supply and market equilibrium
Week 06: Welfare analysis, surplus, deadweight loss
Week 07: axes, subsidies, and price controls
Week 08: Uncertainty and risk; expected utility
Week 09: Game theory basics: normal/ extensive forms, Nash equilibrium
Week 10: Oligopoly (Cournot, Bertrand), entry, and dynamics
Week 11:Asymmetric information: adverse selection & moral hazard
Week 12: Externalities and public goods; Pigouvian taxes, cap-and-trade
Week 13: Auctions and mechanism design (intro)
Week 14: Review and capstone applications
Problem Sets: 25%
Midterm Exam: 25%
Short Policy Memo (5–7 pages): 15%
Final Exam: 30%
Participation/Check-ins: 5%
Grading Scale: A (93–100), A- (90–92), B+ (87–89), B (83–86), B- (80–82), C+ (77–79), C (73–76), C- (70–72), D (60–69), F (<60).
Collaboration: Discuss ideas; submit your own work.
Late Work: 48-hour window with a 10% per day penalty; after that, by prior approval only.
Academic Integrity: University policy applies; violations receive a zero and are reported.
Accessibility: I’m committed to equitable learning—contact me early for accommodations.
TTH 10:00 - 11:00 AM
Economics Building, Room 305
45 Students
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