## Class Times

The class meets Monday, Wednesday, and Friday from 11:00am to 11:50am in PC-422.

## Course Description

This course is the third portion of the graduate microeconomic theory sequence.

## Textbooks

- Andreu Mas-Colell, Michael Whinston, and Jerry Green,
*Microeconomic Theory*, Oxford University Press, New York, 1995. - I will also make a copy of my extensive micro theory notes available to the class.

## Office Hours and Contact Info

Regular office hours are 1:00-2:30pm on Monday, Wednesday, and Friday.
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 <boydj@fiu.edu>.

## Exams, Homework, and Class Participation

The in-class midterm is worth 30% of your grade. The final is worth 50% of your grade.

The **mid-term** was on Monday, October 14.
Here are the answers.

The **final** was at **9:45am on Wednesday, Dec. 11**
in our regular classroom.
*It covered material from the entire course.*
Here are the answers..

### Sample Midterm Exams

Here are two previous midterm exams: exam #1, exam #2.

Versions with answers are also available: exam #1, exam #2.

### Sample Final Exams

Here are two previous midterm exams: exam #1, exam #2.

Versions with answers are also available: exam #1, exam #2.

### Homework and Class Participation

Homework assignments and class participation will count for the remaining 20% of your grade. Homework assignments will appear here as they are made.

### Homework Assignments

- Problems 1.1, 1.6, 1.9, 1.13, 1.14, and 1.21 from the notes were due on Wednesday, Sept. 4. Click for answers.
- Problems 1.24, 1.27, 2.1, 2.6, and 2.13 from the notes were due on Friday, Sept. 13. Click for answers.
- Problems 2.17, 3.1, 3.5, 3.8, and 3.13 from the notes were due on Friday, Sept. 20. Click for answers.
- Problems 3.17, 3.19, 3.21, and 4.1 from the notes were due on Monday, Sept. 30. Click for answers.
- Problems 5.1, 5.4, 5.7, 5.8, and 5.13 from the notes were due on Monday, Oct. 7. Click for answers.
- Problems 7.3, 7.8, 8.1, 8.5, and 8.6 from the notes were due on Wednesday, Oct. 30. Click for answers.
- Problems 8.8, 10.1, 11.1, 11.4, and 11.6 from the notes were due on Wednesday, Nov. 13. Click for answers.
- Problems 12.1, 12.3, 12.4, and 12.8 from the notes were due on Monday, Nov. 25. Click for answers.

## Course Outline

The tentative plan is to cover roughly a chapter per week. We will not cover all of the material in all of the chapters of Mas-Colell et al., but I may add material that is not in the book. The titles in parentheses are the corresponding chapters in the notes. I will periodically update the list to mention the sections covered.

- Chapter 1, Preference and Choice (Preference and Utility)
- Chapter 2, Consumer Choice (Marshallian Demand)
- Chapter 3, Classical Demand Theory (Demand: The Dual Approach)
- Chapter 4, Aggregate Demand (Market Demand)
- Chapter 5, Production (Production)
- Chapter 6, Choice under Uncertainty (Preferences under Uncertainty, Attitudes toward Risk)
- Chapter 15, General Equilibrium Theory: Some Examples (Competitive Equilibrium)
- Chapter 16, Equilibrium and Its Basic Welfare Properties (Existence of Equilibrium, Welfare Properties of Equilibrium)
- Chapter 17, The Positive Theory of Equilibrium (Properties of Equilibrium)
- Chapter 18, Some Foundations of Competitive Equilibrium (The Edgeworth Conjecture)
- Chapter 20, Equilibrium and Time (Capital Theory)
- Chapter 19, General Equilibrium under Uncertainty (Equilibrium under Uncertainty)

### Holidays

There are 3 scheduled holidays that affect our class. We will not meet on Labor Day (Monday, Sept. 2), Veteran's Day (Monday, Nov. 11), or during Thanksgiving Break (Friday, Nov. 29).