Econ 301 Intermediate Microeconomics, Summer 2014

Econ 301 Intermediate Microeconomics

Summer 2014

General Information


Syllabus (pdf; Updated to reflect the grading weights selected in class)

Brief Schedule (pdf)

Textbook website – Useful study aids and practice problems, especially for calculus.

Calculus Review (pdf; Updated periodically as we need more ideas from calculus – last update June 23 for integrals)

Schedule for the last two weeks (pdf)

Current Assignments and Announcements


Problem Set 6 assigned, Due Wednesday, August 6 by 5pm.

The final exam will be on Friday, August 8 and will be over the last half of the course (from economics of risk and time to the end).

Weekly Schedule


 Week 1, June 16 – 20: Supply, demand, equilibrium, elasticities, and the idea of modeling

Week 2, June 23 – 27: Analyzing markets using supply and demand

Week 3, June 30 – July 4: Chapter 16, Externalities and Public Goods

Week 4, July 7 – July 12: Chapters 4 and 5, The Consumer’s Problem

  • Monday:
    • Ch4 Quiz (pdf); Solution (pdf)
    • Reading assignment due Wednesday, July 9: Chapter 5, only pages 180-203.
    • Lecture on calculus of consumer’s problem is based on the appendix to chapter 4: pg 157 – 163 (you can ignore the expenditure minimization stuff at the end for now).
  • Tuesday:
  • Wednesday:
    • Ch5 reading quiz (pdf); Solution (pdf)
    • Lecture on calculus of expenditure minimization (from appendix of Chapter 4, page 162) and on calculus of substitution and income effects (from appendix of Chapter 5, page 209).
    • Reading assignment for Monday: Chapter 13, pages 527 – 557.
    • Problem set 4 (pdf);
  • Thursday:
    • Practice exam 1 posted.
    • Ch5 exercise 1
  • Friday:
    • Ch5 exercise 2

Week 5, July 14 – July 18: Chapters 13, Economics of investment, time and insurance

Week 6, July 21 – July 25: Chapter 6 and Chapter 7, sections 1 & 2: Producer behavior and introduction to costs

Week 7, July 28 – August 1: Chapter 7 and Chapter 8: Perfect Competition and Monopoly

  • Monday:
    • Next reading assignment: Chapter 9, pages 347 – 382, and Sections 1 and 2 of Chapter 12, pages 483 – 497.
    • Ch 7 and 8 reading quiz w/ solution (pdf)
    • Short lecture over economies of scale based on chapter 7.
  • Tuesday:
  • Wednesday:
  • Thursday:
  • Friday:
    • Short lecture recapping profit maximization for monopolist and perfect competition and finding consumer and producer surplus under both market structures (based on the calculus appendix to chapter 9, chapter 9, previous material on consumer and producer surplus)
    • Ch 9 in class exercise 2 w/ solutions (pdf)

Week 7, August 4 – August 8: Chapter 9 and Chapter 12: Monopoly and Game Theory

  • Monday:
  • Tuesday:
  • Wednesday:
  • Thursday:
    • Pre-final grades posted. These grades 1) assume you’ll get the same grade on the final as you got on the first exam and 2) don’t take into account the extra credit earned today.
    • Prisoner’s dilemma experiment for extra credit.
    • Peer evaluations – counted as extra credit.
  • Friday:
    • Final exam. Good luck!