Intermediate Microeconomics - Spring 2013

Professor David Bjerk

Syllabus

Tutoring: Will Dodds, Sundays 8 - 10, Bauer 25

Announcements:

No Class Wednesday Feb 6.

Review Session for first Midterm, Tuesday March 5th at 7:30 in Kravis - LC62

First Midterm - Wednesday March 6th in class

Review Session for second Midterm, Tuesday April 16th at 7:30 in Adams - Davidson Lecture Hall

Second Midterm - Wednesday April 17th in class

Extra office hours for Final - Will Dodds (Tutor) Friday 1-3, me Friday 3-4 (both in BC 36)

Final - Sunday May 12th 7PM - 10PM (Bauer Forum)

Additional Readings:

How Chained CPI Affects Social Security Cola (from US News and World Report)

Giffen Behavior and Subsistence Consumption (from American Economic Review)

Have Car Need Briefs? In Russia, Barter is Back (from New York Times)

You Can't Plan a Market (Chapter 3 from The White Man's Burdern by William Easterly)

Is there (Middle Class) Life after Maytag? (from New York Times)

Free: The Future of a Radical Price (Prologue and Chapter 5)

Free: The Future of a Radical Price (Chapter 8)

As Biofuel Demand Grows, So Do Guatemala's Hunger Pangs (from New York Times)

Cuba's Free-Market Farm Experiment Yields a Meager Crop (from New York Times)

As China Roars, Pollution Reaches Deadly Extremes (from the New York Times)

In Nature's Casino (from The New Yorker)

Powerpoint Slides:

Math Review

Budget Sets (Varian Ch 2)

Preferences (Varian Ch 3)

Utility (Varian Ch 4)

Choice (Varian Ch 5 and "How Chained CPI Affects Social Security COLA" from Readings above)

Demand (in addition to Varian Chapter 6, please read Introduction, Section I, and the Conclusion section to "Giffen Behavior and Subsistence Consumption" form Readings above)

Buying and Selling (in addition to Varian Ch 9: 160-167, please look at "Have Car, need Briefs? " from Readings above)

Exchange and the Welfare Theorems (in addition to Varian Ch 31, make sure to read "You Can't Plan a Market" from Readings above, particularly pp. 72-101)

Labor Supply (Varian Ch 9: 173-178)

Intertemporal Choice (Varian Ch 10)

Market Demand (Varian Ch 15)

Overview of Equilibrium (Varian Ch 1)

Technology/Production (Varian Ch 18)

Factor Demand/Production (in addition to Varian Ch 20, please read "Is There (Middle Class) Life After Maytag?" from Readings above.)

Cost Curves (Varian Ch 21)

Firm Supply (Varian Ch 22)

Market Supply (in addition to Varian Ch 23, please read Chapter 5 and Prologue from Free: The Future of a Radical Price from Readings above.)

Equilibrium (in addition to Varian Ch 16, please read "As Biofuel Demand Grows, So Do Guatemala's Hunger Pangs" from Readings above.)

Monopoly (Varian Ch 24)

Game Theory (Varian Ch 28)

Externalities (in addition to Varian Ch 34, please read "As China Roars, Pollution Reaches Deadly Extremes " from Readings above.)

Public Goods

Problem Sets:

Problem Set 1 (due Monday Jan 28th) answers

Problem Set 2 (due Monday Feb 11th) answers

Problem Set 3 (due Monday Feb 18th) answers

Problem Set 4 (due Monday Feb 25th) answers

Problem Set 5 (due Monday March 4th) answers

Problem Set 6 (due Monday March 25th) answers

Problem Set 7 (due Monday April 1st) answers

Problem Set 8 (due Monday April 8th) answers

Problem Set 9 (due Monday April 15th) answers

Problem Set 10 (due Monday April 29th) answers

Problem Set 11 (due Monday May 6th) (note: we did not get to the material for question 2(c) in class, but try your best and we will talk about it Monday) answers

Problem Set 12 (practice only) answers

Additional Materials

Math Review

Practice Questions for Midterm 1 answers

Midterm 1 Review Sheet

Practice Questions for Midterm 2 answers

Midterm 2 Review Sheet