Econ 30010 - Section 2
Intermediate Microeconomics
Professor Thomas A. Gresik
Fall 2009
On this page, I will post a variety of information and materials related to the course.
I will include schedule updates so be sure to check this page for any last minute schedule questions!
| Schedule Announcements | |
| Class Date | Announcement |
| Tuesday, August 25 | First Day of Class This class meets T Th in 116 DBRT from 2:00 pm to 3:15 pm |
| Thursday, August 27 | Math Review Worksheet due Read chapters 1 and 2 |
| Tuesday, September 3 | Read chapters 3 and 4 |
| Thursday, September 17 | Consumer Behavior Quiz |
| Thursday, September 24 | Read chapter 6 and chapter 7, sections 1 and 2 |
| Tuesday, September 29 | Consumer Behavior Quiz - Price and Income Changes |
| Thursday, October 1 | Chapter 7, section 4 and chapter 8 |
| Tuesday, October 6 | Production and Cost Quiz |
| Thursday, October 8 | Begin discussion of Monopoly Markets |
| Tuesday, October 13 | Midterm, 6:00 pm to 8:00 pm, 310 DBRT |
| Thursday, October 15 | Read chapters 11 and 12 |
| Tuesday, October 27 | Prepare Monopoly Exercise Questions - The assignment has been sent to you via email. |
| Tuesday, November 3 | Read chapters 9 and 10 |
| Thursday, November 5 | Monopoly Quiz |
| Thursday, November 12 | Read Borenstein paper |
| Tuesday, November 17 | Perfect Competition Quiz |
| Thursday, November 19 | Read Chapter 13 |
| Thursday, December 17 | Final Exam, 10:30 am - 12:30 pm in 116 DBRT |
How to contact Professor Gresik
Office: 720 Flanner Hall
Telephone: 631-9341
Click here to email Professor Gresik
Office Hours: Mondays 10:30 am - noon; Thursdays 9:30 am - 11:00 am
You are always welcome to come to my office outside of regular office hours without an appointment. Please stop by when you have questions.
| Course Schedule | ||
| Topic | Subtopics | Materials and Assignments |
| Part I. Preliminary Information | ||
| 1. Course Overview | Syllabus | |
| 2. Math Review | Chapter 1 Math Review Worksheet | |
| 3. Basic ideas for studying microeconomics | Positive and Normative Questions Economic Models Optimization Equilibrium Analysis Comparative Statics Elasticities | Chapter 2 Chapter 1 Problems: 2, 9, 10, and 12 Chapter 2 Problems: 1, 8, 12, 16, and 25 |
| Part II. Individual Economic Behavior (Cost-Benefit Analysis) | ||
| 4. Consumer Behavior | Utility Theory Marginal Utility Marginal Rate of Substitution Budget Sets Consumer Choice Demand Non-linear prices Consumer Surplus Compensating Variation Equivalent Variation |
Consumer Behavior Summary and Outline Chapter 3 Chapter 4 Chapter 5 Chapter 3 Problems: 7a, 15a-d, 16a-d, 17a-d Answers to Chapter 3 Problems Chapter 4 Problems: 3, 5, 10 and 22 Answers to Chapter 4 Problems Chapter 5 Problems: 8, 10, 14, 15, 19, 22, and 24 Answers to Chapter 5 Problems Additional Consumer Choice Problems Answers to Additional Consumer Choice Problems |
| 5. Production and Cost Theory | Production Functions Marginal Product Marginal Rate of Technical Substitution Isoquant Curves Isocost curves Cost Minimization Cost Curves Economies of Scale | Production and Cost Summary and Outline Chapter 6 Chapter 7 Chapter 8 Chapter 6 Problems: 24 Answers to Chapter 6 Problems Chapter 7 Problems: 3, 7, 15, 16, 17, 24, 26, and 28 Answers to Chapter 7 Problems Chapter 8 Problems: 3, 7, 12a,b,c,d,f, and 15 Answers to Chapter 8 Problems Additional Cost Problems Answers to Additional Cost Problems |
| Midterm | Midterm Answers | |
| Part III. Market Analysis | ||
| 6. Monopoly Markets | Profit Maximization Multiplant Monopolies Price Discrimination Economic Rent Natural Monopoly Marginal Cost Pricing Average Cost Pricing Demsetz Competition |
Monopoly Summary and Outline Chapter 11 Chapter 12 Chapter 11 Problems 6, 7,19, and 24 Answers to Chapter 11 Problems Chapter 12 Problem 11 Answers to Chapter 12 Problems Additional Monopoly Problems New Regulation Question Posted. Answers to Additional Monopoly Problems Answers to new regulation question posted. |
| 7. Perfectly Competitive Markets | Profit Maximization Short-run and Long-run Equilibria |
Perfect Competition Summary and Outline Chapters 9 and 10 "Understanding competitive pricing and market power in wholesale electricity markets" by Severin Borenstein in Electricity Journal, Volume 13, No. 6 Chapter 9 Problems: 11, 13, 15, 29a-h, and 32 Answers to Chapter 9 Problems Additional Perfect Competition Problems Answers to Additional Perfect Competition Problems |
| 8. Imperfectly Competitive Markets | Monopolistic Competition Cournot Model Bertrand Model Stackelberg Model Management Contracts | Oligopoly Summary and Outline Chapter 13 Chapter 13 Problems: 12 and 26 Answers to Chapter 13 Problems Additional Oligopoly Problems Answers to Oligopoly Problems |
| Final Exam | Thursday, December 17 - 10:30 am to 12:30 pm - 116 DBRT |