Microeconomics

Program (9 CFU):

Course Objectives 

This is a first-year graduate course in microeconomic theory. The purpose of the course is:

• to familiarize you with the analytical tools adopted in formal microeconomic theory;

•   to help you acquire a thorough understanding of the foundations, mechanics, and conclusions of the core of  neoclassical microeconomics;

There are no formal prerequisites, but competence in undergraduate microeconomics and basic calculus is necessary.

 

Textbook 

Microeconomics, Hugh Gravelle and Ray Rees, 3rd ed., Pearson Education Limited 2004.

 

Course Program (tentative, the final program will be available after the end of lectures)

 

I.      Optimization. Mathematical Appendices (A-H till page 689)

II.    Consumption and Demand. Chs: 2 (excluding Appendix 1 and 2); 3 A, 3 B (without proofs, some parts only streamlined, see slides for details); 4 B; 11 B  

III.  Production and Supply. Chs: 5 (excluding Part E); 6 A, 6 B (without alternative proof of Shephard’s Lemma), 6 C (without formal analysis); 7 A, 7 B (up to page 149), 7 D (without proofs, up to page 156); 10 (A)

IV. Competitive Partial and General Equilibrium. Chs: 8 A, 8 B (till the second paragraph of page 178, and without expectations), 8 C (without stability); 12 A, 12 B, 12 C (Walras law only, equations c.9-c.12), 12 E; 13 A, 13 B, 13 C.

V.   Industrial Organization and Game Theory. Ch. 9 A, 9 B, 9 C (till p. 196), 9 D, 15 A, 15 B (till p.353), 16 A, 16 B (without B.4).  

Evaluation:

Evaluation is based on a written exam only, composed of theoretical questions (multiple choices, True/False with motivation, short open questions), and exercises modeled after the problem sets corrected in class (see below).

Meeting with students:

Lectures:

Additional material:

Next exams: