Microeconomic Theory

Fall 2007/08/09

This course (see Syllabus) is the first of the two-part economic theory core-sequence for the Allievi and Master in Economics programs of Collegio Carlo Alberto. The course is intended to be equivalent of the first part of a year-long doctoral-level sequence in microeconomic theory. It is designed for the dual purposes of providing students with theoretical foundations and preparing them to use economic models in their research. We will cover consumption choice, production, choice under uncertainty, and general equilibrium analysis.

A certain amount of both mathematical and economic sophistication will be needed. As a guide, traditional mathematics sequences in multivariable calculus and some real analysis should suffice. There will be concepts, however, not covered in such sequences, which will be introduced, without a lot of special attention to the mathematics itself.

It will, therefore, be necessary that students are able to acquire technical knowledge "on the fly''. Required prior exposure to economics is at a similar level. A course such as those typically called "Intermediate Microeconomic Theory'' would be a good background. Students whose economics is limited to introductory courses will probably find both the material and the pace rather daunting.

Lecture Notes (incl. Homework Questions)

  1. Preference and Choice

  2. Choice Theory

  3. Consumer Theory I

  4. Consumer Theory II

  5. Welfare Change Measures

  6. Production

  7. Economics of Sales Taxes

  8. Choice under Uncertainty

  9. Risk Comparisons

  10. General Equilibrium