The class meets Tuesday and Thursday from 11:00am to 12:15pm in PC-332.
This course is the second portion of the graduate microeconomic theory sequence. It covers the theory of competitive markets.
Andreu Mas-Colell, Michael Whinston, and Jerry Green, Microeconomic Theory, Oxford University Press, New York, 1995.
We will also use my manuscript on microeconomics. I will send a pdf of these notes to each member of the class.
Office Hours and Contact Info
Finals week office hours are 1:30-4:30 on Tuesday and Wednesday. I will be happy to make an appointment for another time if that is more convenient. My office is DM-311A, my phone number is 305-348-3287, and my email is <email@example.com>.
The tentative plan is to cover roughly a chapter per week. However, we will not cover all of the material in all of the chapters, but I may add material that is not in the book. I will periodically update the list to mention the sections covered.
- Chapter 1, Preference and Choice
- Chapter 2, Consumer Choice
- Chapter 3, Classical Demand Theory
- Chapter 4, Aggregate Demand
- Chapter 5, Production
- Chapter 15, General Equilibrium Theory: Some Examples
- Chapter 16, Equilibrium and Its Basic Welfare Properties
- Chapter 6, Choice under Uncertainty
- Chapter 19, General Equilibrium under Uncertainty
- Chapter 20, Equilibrium and Time
Exams, Homework, and Class Participation
The in-class midterm will be worth 35% of your grade. The final is worth 50% of your grade.
The mid-term was given on Thursday, February 23. Here are the answers.
The final will be in our regular classroom (PC-332) at the officially scheduled time: 9:45am on Thursday, April 26. It will be comprehensive. Here are the answers.
Sample Midterm Exams
Sample Final Exams
Homework and Class Participation
Homework assignments and class participation will count for the remaining 15% of your grade. Homework assignments will appear here as they are made.
- Problems 1.4, 1.10, 1.17, 1.22, and 1.26 from the notes were due on Thursday, January 26.
- Problems 2.3, 2.8, 2.10, 2.14, and 2.23 from the notes were due on Thursday, February 2.
- Problems 3.3, 3.7, 3.9, 3.15, and 3.19 from the notes were due on Tuesday, February 14.
- Problems 5.8, 5.10, 8.1, 8.2, and 8.4 from the notes were due on Tuesday, March 20.
- Problems 11.4, 11.5, 6.2, 6.3, and 7.3 from the notes are due on Thursday, April 5.
Answers to homework
- Click for answers to problem set #1.
- Click for answers to problem set #2.
- Click for answers to problem set #3.
- Click for answers to problem set #4.
- Click for answers to problem set #5.
Unless there is a very compelling reason for doing so, missing the mid-term exam or the final will mean an automatic F in the course.
We strictly follow university policy on incompletes. This means that incompletes will only be considered when an emergency prevents you from attending the final exam.
While you may use a calculator on exams, any other use of computers, notes, books, or advice from others on exams is considered cheating and will be dealt with accordingly. See the university policy on Academic Misconduct for more details.
- Jan. 9
- Classes begin
- Jan. 16
- Martin Luther King Holiday (no class)
- Jan. 17
- Last day to drop with full refund
- Feb. 3
- Last day to drop with 25% refund
- Feb. 3
- Last day to apply for Spring Graduation
- Mar. 2
- Last day to drop with DR
- Mar. 12-18
- Spring Break (no class)
- Apr. 21
- Last day of regular classes
- Apr. 26
- Final at 9:45
- Apr. 23-28
- Finals Week
- May 3
- All grades available online