Mon Wed Fri 9.00 – 10.20 a.m. Olson 158
Wed 2.10 - 3.00 p.m. Young 192
Thursday afternoon 1.30 p.m. – 3.00 p.m.
Friday morning 10.30 p.m. – Noon.
There is no T.A. for this course.
There mayl be a tutor (an undergraduate student) who will have office hours in SSH ??
three hours a week, and have no other responsibilities (in particular the tutor is not the grader).
To understand and apply the analytical methods, tools, and terminology of neoclassical micro-economics.
Economics 1A and 1B, and Mathematics 16A-B or 21A-B (grades C- or better).
The essential pre-requisites are Economics 1A and Mathematics 16A.
Michael L. Katz and Harvey S. Rosen, Microeconomics, 3rd Edition, Irwin McGraw-Hill, 1998.
On sale at Navins Copy Shop (231 Third) is
C. Cameron: Coursepack for Intermediate Microeconomics 100.
You need to purchase this as it includes assignments for this quarter. It also includes lecture notes on some topics covered at the end of the course, and past exams and solutions.
The purpose of this course is to not only present micro-economic theory,
but for you to be able to apply this theory to economic problems. Furthermore,
understanding of the course material is best gained by attempting to apply
this theory. This cannot be over-emphasized. There will be weekly assignments.
And there are questions at the end of each chapter of the text.
1 class Ch.1 The Market Economy All
2. Consumer Behavior
3 classes Ch.2. Consumer Choice All
2 classes Ch.3 Comparative Statics and Demand All
2 classes Ch.4 Price Change and Consumer Welfare All
Midterm Exam 1 Friday January 30
1 class Ch.5 Supply of Labor and Capital Ch. 5.1-5.2
3. Firm Behavior
1 class Ch.7 The Firm and Its Goals Ch. 7.1-7.2
1 class Ch.8 Technology and Production All
2 classes Ch.9 Cost All
2 classes Ch.10 The Price Taking Firm All
4. The Competitive Model
3 classes Ch.11 Equilibrium in Competitive Markets All
Midterm Exam 2 Friday February 20
3 classes Ch.12 General Equilibrium and Welfare Ch. 12.1-12.2, 12.4
5. Market Power
2 classes Ch.13 Monopoly All
6. Missing Markets
2 classes Ch.18 Externalities and Public Goods All
The first four topics will be studied in detail.
The treatment of the remaining two topics will be more selective.
Assignments: 10% Due Fridays 9.00 am Jan 16,23; Feb 6,13; Mar 5, 12.
Midterm Exam 1: 22.5% Friday Jan 30 Chs. 1-4
Midterm Exam 2: 22.5% Friday Feb 20 Chs. 5,7-11
Final Exam: 45% Thursday March 18 10.30 a.m. – 12.30 p.m. Comprehensive
Assignments will be graded satisfactory (2%) or unsatisfactory (0%).
Full solutions will be distributed. Satisfactory means a serious attempt
to answer at least 80% of the questions. The lowest of the scores on the
six assignments is dropped, i.e. no penalty for not handing in one assignment
if the other five are graded satisfactory.
No credit is given for late assignments. Academic honesty is required.
Exams are closed book with a mixture of short answer (about two-thirds) and multiple choice (about one-third) questions. The final is comprehensive: about 40% on chapters 1-5, 7-10 and 60% on the chapters 11-13, 18.
The course grade is determined by the total score, with weights
given above. Since the assignments are graded on a generous scale (satisfactory
or unsatisfactory) most students will get full credit on the assignment portion,
so for most students the course score is determined by scores on the exams.
To indicate your progress I give a grade on each midterm. But the final grade
is determined by summing the exam and assignment scores (and not by averaging