Class Time and Location
The class meets Tuesday and Thursday from 2:00pm to 3:15pm in GC-275A.
This course is part of the graduate microeconomic theory sequence, with a primary focus on competitive markets and general equilibrium.
- My micro theory manuscript, which will be made available to the class.
- Andreu Mas-Colell, Michael Whinston, and Jerry Green, Microeconomic Theory, Oxford University Press, New York, 1995.
Office Hours and Contact Info
If you have questions, you may ask immediately after class, or come to my office. Regular office hours are 1:00-1:45pm and 3:30-4:30pm on Tuesdays and Thursdays. 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 <email@example.com>.
Exams and Homework
The in-class midterm will be worth 35% of your grade. The final is worth 50% of your grade.
The mid-term was on Tuesday, February 26. The answers are here.
The final will be in our regular classroom (GC-275A) at the officially scheduled time: Thursday, April 25, at 12 noon.
The material covered varies from year to year and some of the questions on previous exams may not be relevant for the material we cover this year. A few of the answers contain minor errors.
Homework and Class Participation
Homework assignments and class participation will count for the remaining 15% of your grade. Homework assignments will appear here as they are made.
Homework assignments and answers will appear here.
- Problems 3.1.4, 3.2.2, 3.3.2, and 3.3.3 were due on Tuesday, January 22. The answers are here.
- Problems 5.2.2, 5.2.3, 9.1.2, and 9.2.1 were due on Tuesday, January 29. The answers are here.
- Problems 10.4.1, 10.4.3, 11.1.2, 11.1.4, and 11.2.2 were due on Tuesday, February 5. The answers are here.
- Problems 14.1.1, 14.3.2, 14.4.2, and 15.2.1 are due on Thursday, February 14. The answers are here.
- Problems 15.3.2, 15.3.3, 15.3.6, and 16.3.1 are due on Thursday, February 21. The answers are here.
- Problems 16.3.4, 16.4.1, 16.4.4, and 17.2.3 are due on Thursday, March 7. The answers are here.
- Problems 19.1.1, 19.1.6, 19.2.1, and 20.1.3 are due on Tuesday, March 26. The answers are here.
- Problems 20.2.1, 21.1.2, 21.1.8, and 21.1.11 are due on Tuesday, April 9. The answers are here.
- Problems 23.2.3, 23.2.4, 23.3.2, and 23.5.1 are due on Tuesday, April 16. The answers are here.
- Sample problems: 25.1.2, 25.1.4, 25.2.7, and 26.1.2. The answers are here.
Tentative Course Outline
You are responsible for the material covered in any sections of the manuscript mentioned in the outline.
The table lists the closest corresponding chapter in Mas-Colell, Whinston, and Green (MWG). In some cases, the correspondence is not very close. We will not cover all of the material in the manuscript. I will periodically update the list to mention the sections covered.
|1-2||Jan. 8, 10, 15||3||Homotheticity and Separability||N/A|
|2-3||Jan. 15, 17, 22||9||Market Demand||4|
|3-4||Jan. 22, 24||10||Preferences and Risk||6|
|4||Jan. 29, 31||11||Attitudes toward Risk||6|
|5||Feb. 5, 7||14||Production Sets and Profit||5|
|6||Feb. 12, 14||15||Firm and Market Supply||5|
|7||Feb. 19, 21||16||Competitive Equilibrium||15|
|8||Feb. 26||Midterm||Midterm (thru Chap. 15)|
|8||Feb. 28||17||Equilibrium Existence||17A-C|
|9||Mar. 5, 7||19||Pareto Optimality||16|
|--||Mar. 9-17||Spring Break||Vacation|
|10||Mar. 19, 21||20||Economic Welfare||16|
|11||Mar. 26, 28||21||The Edgeworth Conjecture||18|
|12||Apr. 2, 4||23||Equilibrium over Time||20|
|13||Apr. 9, 11||23||Equilibrium in Complete Asset Markets||19|
|14||Apr. 16, 18||24||Radner Equilibrium||19|
|15||Apr. 25||Final||Final: Thursday, April 25, at 12 noon|