Economics 201, Section 2: Microeconomic Analysis

Professor Christiaan Hogendorn
Fall 2001
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Syllabus

N.B. All Varian readings INCLUDE the appendices to the chapters.

I. Consumer Preferences for Goods and Services
Sept. 4 1. Introduction
Varian, Chapter 1 and Appendices A1-A12.
Optional: Varian, Chapter 30, pp. 543-545. 		Assigned: Problem Set 1, #1.
Review: Varian, Chapter 1, #1-5.
Sept. 6 2. The Budget Constraint
Varian, Chapter 2. Assigned: Problem Set 1, #2,3.
Review: Varian, Chapter 2, #1-7.
Sept. 11 3. Consumer Preferences and Indifference Curves
Varian, Chapter 3. Problem Set 1 due, beginning of class.
Assigned: Problem Set 2, #1,2.
Review: Varian, Chapter 3, #7-11.
Sept. 13 4. Utility
Varian, Appendices A13-A12 and Chapter 4. Assigned: Problem Set 2, #3,4.
Review: Varian, Chapter 4, #1-7.
Sept. 18
Rosh Hashanah 		5. The Consumer's Optimal Choice
Varian, Appendices A14-A15 and Chapter 5. Problem Set 2 due, beginning of class.
Assigned: Problem Set 3, #1,2,3.
Review: Varian, Chapter 5, #1-6.
Sept. 20 6. Using Consumer Preference Theory: Aggregation and Indexing
Varian, Chapter 31, sections 31.1-31.3, and
Chapter 7, sections 7.1-7.4, 7.9. 		Assigned: Problem Set 3, #4.
Review: none.
Optional: Varian, Chapter 7, #1-3.

II. Consumer Demand for Goods and Services
Sept. 25 7. Demand
Varian, Chapter 6. Assigned: none.
Review: Review Problem Set 3A, #1.
Varian, Chapter 6, #1-6.
Sept. 27
Yom Kippur 		8. The Income and Substitution Effects
Varian, Chapter 8. Assigned: none.
Review: Review Problem Set 3A, #2-4.
Varian, Chapter 8, #1-5.
Oct. 2
Sukkot 		9. Buying and Selling
Varian, Chapter 9. Problem Set 3 due, beginning of class.
Assigned: Problem Set 4, #1-4.
Review: Varian, Chapter 9, #1-6.
Oct. 4 10. Consumer Surplus
Varian, Chapter 14. Assigned: none.
Review: Varian, Chapter 14, #1-3.
Oct. 9 11. Market Demand
Varian, Chapter 15. Problem Set 4 due, beginning of class.
Assigned: Problem Set 5, #1.
Review: Varian, Chapter 15, #1-2.
Oct. 11 FIRST HOUR EXAM
Exam.   Answers.
Oct. 16
Fall Break		  

III. The Firm and Perfect Competition
Oct. 18 12. Technology
Varian, Chapter 18. Assigned: none.
Review: none.
Oct. 23 13. Technology and Cost Minimization
Varian, Chapters 18 and 20. Problem Set 5 due, beginning of class.
Assigned: Problem Set 6, #1,2.
Review: Varian, Chapter 18, #1-6, Chapter 20, #1-4.
Oct. 25 14. Cost Curves
Varian, Chapter 21. Assigned: Problem Set 6, #3.
Review: Varian, Chapter 21, #1-3.
Oct. 30 15. Firm Supply
Varian, Chapter 22 and Chapter 23, pg. 392 only. Problem Set 6 due, beginning of class.
Assigned: Problem Set 7, #1,2.
Review: Varian, Chapter 22, #1-11, Chapter 23, #1.
Nov. 1 16. Market Equilibrium
Varian, Chapter 16. Assigned: Problem Set 7, #3,4.
Review: Varian, Chapter 16, #1-5.
Nov. 6
Election Day		 17. Perfect Competition and the Long Run
Varian, Chapter 23. Problem Set 7 due, beginning of class.
Assigned: Problem Set 8, #1.
Review: Varian, Chapter 23, #2-7.

IV. Market Interactions and Market Failures
Nov. 8 18. Exchange
Varian, Chapter 29. Assigned: Problem Set 8, #2,3.
Review: Varian, Chapter 29, #1-5.
Nov. 13 SECOND HOUR EXAM
Exam.   Answers.
Nov. 15 19. Externalities
Varian, Chapter 32. Assigned: Problem Set 8, #4.
Review: Varian, Chapter 32, #1,2.
Nov. 20 20. Public Goods
Varian, Chapter 35. Assigned: Problem Set 9, #1.
Review: Varian, Chapter 35, #3.
Nov. 22
Thanksgiving		  

V. Market Power
Nov. 27 21. Monopoly
Varian, Chapter 24. Problem Set 8 due, beginning of class.
Assigned: Problem Set 9, #2,3.
Review: Varian, Chapter 24, #1-9.
Nov. 29 22. Oligopoly and Game Theory
Varian, Chapter 27, pp. 477-491 and Chapter 28. Assigned: Problem Set 9, #4,5.
Review: Varian, Chapter 27, #1,2,4,6; Chapter 28, #2,4

VI. Financial Economics
Dec. 4 23. Consumer Choice and Asset Returns over Time
Varian, Chapters 10 and 11. Problem Set 9 due, beginning of class.
Assigned: Problem Set 10, #1,2.
Review: Varian, Chapter 10, #1-5; Chapter 11, #1-4.
Dec. 7 24. Consumer Choice and Asset Returns with Risk and Uncertainty
Varian, Chapters 12 and 13. Assigned: Problem Set 10, #3.
Review: Varian, Chapter 12, #1-6; Chapter 13, #1-3.
Problem Set 10.