In this course we will be looking at microeconomic theory at a more detailed level, and from a business perspective. Topics that will be covered include consumer choice, theory of the firm, market structure, competitive general equilibrium, capital markets, uncertainty, asymmetric information and contracts. Optimization subject to constraints is used as the unifying concept. A complete syllabus can be downloaded here.
Lecture NotesTopic 02: Preferences and UtilityTopic 03: Optimal ChoicesTopic 04: DemandTopic 05: Demand and PricesTopic 06: Applications of Consumer TheoryTopic 07: Firms and ProductionTopic 08: Short Run CostsTopic 09: Long Run CostsTopic 10: Perfect CompetitionTopic 11: MonopolyTopic 12: OligopolyAssignmentsAssignment 01: Math Practice. Due date is Thursday September 17 in class. Solution outline.Assignment 02: Preferences and Utility. Due date is Thursday October 1 in class. Solution outline.Assignment 03: More on Demand. Due date is Tuesday October 13 in class. Solution outline.Assignment 04: Even More on Demand. Due date is Thursday October 22. Solution outline. 10/15/15: Note there was a typo in the first version posted, please download this version. Thanks to Grant for bringing to my attention.Assignment 05: Choices Across Time. Due date is Thursday November 5 in class. Solution outline. Deadline extended to Tuesday November 10 in class.Assignment 06: Production and Costs. Due date is Tuesday November 17 in class. Solution outline.Assignment 07: Long Run Costs and Market Structure. Solution outline. Due date is Tuesday November 24 in class. Note: You should be able to answer question 1 now, and question 2 by the time we finish on Thursday.Miscellaneous and AnnouncementsREMINDER: Your first midterm examination is scheduled for October 8 (Thursday). The format is 4 short essay questions. You must answer all 4 questions. Here are some sample questions that might help you gauge the level of difficulty/type of problems that might be asked. Also remember there is no class on October 6 (Tuesday). You should use the time to work through the sample questions you have been given.REMINDER: Your second midterm examination is scheduled for December 3 (Thursday). The format is the same as the first midterm. Here are some sample questions that might help you gauge the level of difficulty/type of problems that might be asked. |

John P. Gilbert >