Economics
212
Microeconomic
Theory
Spring
2002
Michael Robinson
Office:
Skinner 128 538-2215
Email:
mirobins@mtholyoke.edu
Office Hours:
MW 9-11 and by appointment.
This
course provides an in depth coverage of microeconomics. Topics include: consumer demand, uncertainty, the theory of the firm, goods
markets, resource markets, general equilibrium, and market failures. Students are assumed to have a basic grasp
of microeconomics from a principles course and adequate calculus ability. Note: Calculus is a prerequisite for this
course.
The
text for this course is:
Intermediate
Microeconomics, 5th Ed. Hal Varian
Grades for the course will be assigned on the basis
of two mid-semester exams, a comprehensive final, and some short quizzes.
The exams
count for 80 percent of your grade and the quizzes count 20 percent. Each chapter has several problems with
answers in the back of the book and students should work these problems. Fourth
hour periods will be available for discussing these problems and for taking the
midsemester examinations. I have
noticed over time a very high correlation between problem completed and final
course grades (not to mention attendance).
During the Friday 4th hour we will have quizzes, do review problems
and discuss issues in microeconomics. A
fourth hour schedule will be forthcoming.
There will be a number of materials on the web
http:www.mtholyoke.edu/~mirobins/econ212.html.
Course
Outline
Topic Readings Date
I. Introduction Jan.
28
Varian Chapters 1 and Mathematical Appendix
II. Consumer Demand
1. Budget
Constraint and Preferences Jan.
30
Varian Chapter 2-3
2. Utility Feb.
4
Varian
Chapter 4
3. Choice and
Individual Demand Feb.
6
Varian Chapter 5-6
4. Topics in
Consumer Demand Feb.
11
Varian Chapter 7-9
5.
Intertemporal Choice Feb.
13
Varian Chapter 10
6.
Uncertainty Feb.
18
Varian Chapter 12-13
7. Consumer
Surplus Feb.
20
Varian Chapter 14
8. Market
Demand Feb.
25
Varian Chapter 15 - 16
Exam 1 Feb.
28-30
III. Producer Behavior
1. Technology Feb.
27
Varian Chapter 18
2. Profit
Maximization March
4
Varian 19
3. Cost
Minimization March
6
Varian 20
4. Cost
Curves March
11
Varian 21
5. Firm
Supply and Industry Supply March 13
Varian 22-23
6. Markets
and Auctions March
25
Varian 16 and 17
IV. Market Structure and Strategy
1. Monopoly March
27
Varian Chapter 24
2. Monopoly
Pricing April
1
Varian
Chapter 25
3. Oligopoly April
3
Varian
Chapter 27
4. Game
Theory April
8
Varian Chapter 28
V. General Equilibrium
1. Exchange April
10
Varian Chapter 29
Exam 2 April
12-14
2.
Production April
15
Varian Chapter 30
3. Welfare April
17
Varian Chapter 31
2.
Externalities April
22
Varian Chapter 32
3. Public Goods April
24
Varian Chapter 35
4. Information April
29
Varian Chapter 36
5. Information Technology May
1
Varian Chapter 34
Review May 6
Comprehensive Final Exam Self-Scheduled
Powerpoint examples (IBM
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