## Class Time and Location

Since the beginning of the semester we have meet virtually from 2:00-3:30pm on Tuesdays and Thursday's using Zoom (access through Canvas).

## Course Description

This course is part of the graduate microeconomic theory sequence, with a primary focus on competitive markets and general equilibrium.

## Textbooks

- 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 <boydj@fiu.edu>.

## 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, March 2.
Here are the answers.

The **final** is scheduled for 12-2pm on Tuesday, April 20.

### Sample Exams

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 will count for the remaining 15% of your grade. Homework assignments will appear here as they are made.

### Homework Assignments

Homework assignments and answers will appear here.

- Problems 3.1.5, 3.2.1, 3.3.7, and 3.3.12 were due on Tuesday, January 26. Click here for the answers.
- Problems 7.2.2, 7.4.1, 7.5.1, 7.5.3, and 8.1.2 were due on Tuesday, February 2. Click here for the answers.
- Problems 9.1.2, 9.1.7, 9.1.8, 9.3.4, and 10.2.1 were due on Tuesday, February 9. Click here for the answers.
- Problems 10.4.1, 13.1.5, 13.4.1, 13.5.1, and 14.2.1 were due on Tuesday, February 23. Click here for the answers. Some of the questions have been corrected.
- Problems 19.1.1, 19.1.4, 19.1.7, 19.2.1, and 20.1.2 were due on Tuesday, March 16. Click here for the answers.
- Problems 20.2.3, 20.2.5, 21.1.2, 21.1.7, 22.3.1, and 22.3.3 were due on Thursday, March 25. Click here for the answers.
- Problems 22.4.2, 22.4.3, 23.1.2, 23.1.6, 23.2.2, and 23.3.1 were due on Tuesday, April 6. Click here for the answers.
- Problems 25.2.5, 25.2.8, 25.3.3, 25.5.1, 27.2.1, and 27.3.4 were due on Tuesday, April 13. Click here for the answers.

## Tentative Course Outline

You are responsible for the material covered in any sections of the manuscript mentioned in the outline.

I strongly recommend that you make sure you are familiar with the material in the non-starred sections of chapters 1-2 and 4-6 of the manuscript. Much of this should be familiar from Fundamentals Micro, and a bit of it appeared in Math Methods.

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 occasionally update the list to reflect material actually covered.

Week | Dates | Manuscript Chapter | Subject | MWG Chapter |
---|---|---|---|---|

1-2 | Jan. 12, 14, 19 | 3 | Homotheticity and Separability | N/A |

2 | Jan. 19, 21 | 7-8 | Duality | N/A |

3 | Jan. 26, 28 | 9-10 | Theory and Measurement | N/A |

4 | Feb. 2, 4 | 13 | Production Sets and Profit | 5 |

5 | Feb. 9, 11 | 14 | Firm and Market Supply | 5 |

6 | Feb. 16, 18 | 15 | Competitive Equilibrium | 15 |

7 | Feb. 23 | 16 | Equilibrium Existence | 17A-C |

7 | Feb. 25 | 19 | Pareto Optimality I | 16 |

8 | Mar. 2 | Midterm | Midterm (thru Chap. 15) | |

8 | Mar. 4, 9 | 20 | Economic Welfare | 16 |

9 | Mar. 9, 11 | 21 | The Edgeworth Conjecture | 18 |

10 | Mar. 16, 18 | 22 | Preferences and Risk | 6 |

11 | Mar. 23, 25 | 23 | Attitudes toward Risk | 6 |

12 | Mar. 30, Apr. 1 | 25 | Equilibrium over Time | 20 |

13 | Apr. 6, 8 | 27 | Equilibrium in Complete Asset Markets | 19 |

14 | Apr. 13, 15 | 28 | Radner Equilibrium | 19 |

15 | Apr. 22 | Final | 12-2pm on Tuesday, April 20 |