Intermediate Microeconomics - Fall 2014

Professor David Bjerk



Tutor office hours will be held every Sunday from 6:30 - 9:30 in Bauer Center 25.

Tutors: Tianxiao Ye (

Liza Farr (


Final will be held Wednesday December 17 at 7:00PM in the BC Forum.

Movie ("Living on One Dollar a Day") will be shown in Friday Sept 26th from 7-9PM in the BC Forum.

Extra Tutoring Session, Tuesday October 14, 7-8 PM Bauer Center 23.

Review session with Professor Bjerk for Midterm 2, Sunday Nov 23, 7-8 PM Davidson Lecture Hall

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)

A Driving School in France Hits A Wall of Regulations (from New York Times)

As Biofuel Demand Grows, So Do Guatemala's Hunger Pangs (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 Constraints

Preferences Note: I fixed a typo on page 10 (the technical definition of convex preferences)




Buying and Selling


Labor Supply

(midterm 1 covers through Labor Supply)

Intertemporal Choice

Market Demand

Overview of Market Equilibrium (sorry this wasn't posted before class)


Firm Behavior/Factor Demands

Cost Curves

Firm Supply

Market Supply


(midterm 2 covers through Equilibrium)


Game Theory


Problem Sets:

Problem Set 1 (due Monday, Sept 8) answers

Problem Set 2 (due Monday, Sept 15) answers

Problem Set 3 (due Monday, Sept 22) answers

Problem Set 4 (due Monday, Sept 29) answers

Problem Set 5 (due Monday, Oct 6) answers

Problem Set 6 (due Monday, Oct 13) answers

Problem Set 7 (due Monday, Oct 27) answers

Problem Set 8 (due Monday, Nov 3) answers

Problem Set 9 (due Monday, Nov 10) answers

Problem Set 10 (due Monday, Nov 17) answers

Problem Set 11 (for practice only) answers

Problem Set 12 (due Monday, Dec 8) answers

Problem Set 13 (for practice only) answers

Additional Materials

Math Review Sheet

Midterm 1 Review Sheet

Practice Questions for Midterm 1 answers

Midterm 1 answers

Midterm 2 Review Sheet

Practice Questions for Midterm 2 answers

Midterm 2 answers