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).
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 <firstname.lastname@example.org>.
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 was on Tuesday, April 20. Here are the answers.
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 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.
|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|