Course Page for 3101 Spring 2006

Syllabus

Up-dated calendar, HW's and Announcements:

Introduction

1/17     Intro, Review of partial derivatives

Consumer Theory

1/19     Rational Behavior, Preferences and Utility Functions

            Lecture notes part 1 (16 p font size, you may want to print 2 pages per sheet)

            Michael Bar's Math review (Focus on sections 2 and 3)

1/24    Preferences and Utility Functions, Indifference Curves

            HW 1

1/26    Properties of the C-D utility function: Marginal utility, MRS, Intro to optimization

1/31     MRS and preference for average bundles in the CD case; Consumer’s maximization problem

2/2      Lagrangian optimization, Comparative Statics

            For those who want to know: More on  the Lagrange Multiplier method

2/7     Indirect Utility Function, Expenditure Minimization, Hicksian Demand, Income and Substitution effect

            HW 1 due 

2/9       Hicksian Demand, Income and Substitution effect

            Answer Key to HW 1

            Group work project (=HW 5)

             HW 2

2/14     Optimal Labor Supply

            Material for the Group work project

2/16     Labor Supply and Taxes

Producer Theory

2/21   Theory of the Firm: technology, cost minimization in the short run and long run

            Lecture Notes Part 2

2/23     Cost minimization in the short run and long run

2/28    Properties of Cost functions, Firm's supply decision

            Study Guide for the midterm exam

            Practice MT (Answer Key)  

            HW 2 due

3/2      Firm's supply decision in LR and SR

3/7      Review

            HW 2 Solutions

3/9      Midterm (in class)

3/14    SPRING BREAK (no class)

3/16    SPRING BREAK (no class)

3/21    The internal organization of the  firm: the principal-agent problem

            Optional readings:

                * The Economist on Executive Compensation

                * Gibbons on Firms and Incentives

Markets: Partial and General Equilibrium

3/23     Partial equilibrium in competitive markets, General v Partial Equilibrium,  Walras' Law

             Lecture Notes Part 3

            Answer Key for the MT Exam

3/28    Walras' Law, Definition of a General Equilibrium, GE and the Edgeworthbox

            HW 3

            Question Key for the MT (optional reading...)

3/30    General equilibrium in the Edgeworthbox

            Group work project due

4/4      General equilibrium and efficiency

Market Imperfections

4/6      Monopoly

            Lecture Notes Part 4

4/11    Monopoly and Efficiency; Price Discrimination 

            HW  4 

 4/13   Monopoly and Price Discrimination

            HW 3 Solutions

4/18    Regulation of Monopoly; Oligopoly

4/25    Oligopoly

4/27    Game theoretic models of Oligopoly

            Study Guide for the Final Exam

            Practice Exam 1 (Solutions)

            Practice Exam 2 

            HW 4 Solutions

5/2      Lecture on the German Monetary Union 1990

5/4      The Cartel Game; Review (HW 4 back)

5/10    Final Exam 8 am -10 am, in class