2020 Spring

Syllabus

Textbook: Microeconomic Theory - Basic Principles and Extensions, Snyder and Nicholson (11th ed, 2012)

Assignment will be posted on Canvas March 20 and is due April 20

Final exam will take place May 29 (Friday)

Contents

Lecture 10 (Feb 26) - Preferences and Utility, Lecture Slides

Lecture 11 (Feb 28) - Utility Maximization and Choice, Habits and Addiction (Becker-Grossman-Murphy, 1994), The Duality Principle

Lecture 12 (Mar 4) - Expenditure Minimization Problem, Hicksian Demand Functions, The Duality Principle

Lecture 13 (Mar 6) - The Slutsky Equation, In Search of Giffen Goods (Jensen and Miller, 2008)

Lecture 14 (Mar 11) - Measurement of Welfare Loss (Waldfogel, 1993), Expected Utility Theorem, Risk Aversion, Lecture Slides

Lecture 15 (Mar 13) - Measurement of Risk Aversion (Schroyen-Aarbu, 2018), Demand for Insurance, Prospect Theory (Kahneman-Tversky, 1979)

Lecture 16 (Mar 18) - Production Functions, Returns to Scale and Elasticity of Substitution, Applications to Immigration and Technological Progress, Lecture Slides

Lecture 17 (Mar 20) - Cost Functions, Conditional Input Demand Functions

Lecture 18 (Mar 27) - Profit Maximization, Input Demend Functions, Duality, The Le Chatelier Principle

Lecture 19 (Apr 1) - Profit Functions, Producer Surplus,

Exercise class (Apr 3)

Lecture 20 (Apr 15)

Lecture 21 (Apr 17)