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| Week 1--Sept 8 |
Preliminaries. Why study Micro? Inflation adjustments &
introduction to supply and demand. PR Ch.s 1 and 2.
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| Week 2--Sept 15 |
Supply and demand (continued). Consumer theory.
PR Ch. 3. |
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| Week 3--Sept 22 |
Consumer choice/math review PR Ch. 4.
Problem Set #1 assigned. |
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| Week 4--Sept 29 |
Individual demand & market demand. |
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| Week 5--Oct 6 |
Individual demand & market demand. 9:
(i) Finish demand. (ii) Labor supply Handout.
Problem Set #2 assigned.
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| Week 6--Oct 14 |
(i) Labor supply (continued).
(ii) Exchange & welfare theorem.
PR 16.1-16.2, 16.6-16.7 (skim 16.4-16.5).
Problem Set #3 assigned.
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| Week 7--Oct 20 |
Finish exchange.
(ii) Time, discounting, & the basics of private cost-benefit
analysis.
PR Ch 15.1-15.4, 15.6, 15.8..
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| Week 8--Oct 27 |
(i) Finish discounting & time.
(ii) Behavior in uncertain environments.
PR Ch. 5.
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| Week 9--Nov 3 |
No Class (university holiday).
TAKE-HOME MIDTERM EXAM. |
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| Week 10--Nov 10 |
(i) Finish uncertainty.
(ii) Asymmetric uncertaintyCinsurance markets, problems of management;
how an information scarcity can hinder market efficiency.
PR Ch. 17.
Problem Set #4 assigned.
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| Week 11--Nov 17 |
Asymmetric uncertainty.
(ii) Firms: the supply side of goods &services markets.
PR. Ch. 6 & handout.
Problem Set #5 assigned.
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| Week 12--Nov 24 |
No Class |
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| Week 13--Dec 1 |
Production in the short-run & long-run..
PR. Ch. 7 and 8.
Problem Set #6 assigned.
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| Week 14--Dec 8 |
Various measures of firm costs: opportunity, total, average,
variable, marginal, fixed, & sunk which measures do we care
about? (Continued next semester)
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| Week 15--Dec 15 |
Final Exam |