Econ 3010 Intermediate Microeconomics Fall 2015 Marc Santugini THE RULES Intermediate microeconomics is a core course for the economics major. It is about how economic agents make decisions and how markets work. The prerequisites for this course are Econ 2010 and one semester of calculus. The text for the course is Microeconomics, 7 th edition by R.S. Pindyck and D.L. Rubinfeld. Your grade is based on two midterms (25% each), a cumulative final exam (40%), and homework assignments (10%). Exam dates are indicated in the schedule below. 1 You must work alone without notes, electronic gadgets, etc. on each of the three exams; the exams must be pledged. There will be 6 homework assignments. You will be assigned to a group of about four students for the purpose of completing homework assignments. The homework assignments are due on the dates shown below and must be handed in at the beginning of class. Each group will hand in one paper. You may collaborate freely with other students (i.e., not just those in your group) in working these assignments; this work is not pledged. However, failing to fully collaborate (i.e., free riding) on homework assignments is not acceptable. Your work is expected to be neat and legible. If the TA finds your work too sloppy and/or illegible, it will not be graded, or points will be taken off. My office is 330 Monroe Hall. I hold regular office hours (first come first seen) on Tuesdays from 10 to noon. You can make an appointment to see me at other times if you have a conflict during regular office hours. Send email to ms3ae@virginia.edu. 1 If you are unable to take either midterm exam at the scheduled time because of intercollegiate competition, illness, or an emergency, and if you notify me of your situation in advance (unless it is an extreme emergency), I will excuse you from the exam, and, in its place, allow you to take a cumulative make up exam at a time to be arranged at the end of the semester.
TENTATIVE SCHEDULE AND ASSIGNMENTS I. Demand Wednesday, August 26: Consumer Choice I Read Pindyck & Rubinfeld, Microeconomics, 3.1, 3.2 Monday, August 31: Consumer Choice II Read Pindyck & Rubinfeld, Microeconomics, 3.3 3.5 Wednesday, September 2: Consumer Choice III Monday, September 7: Demand I Read Pindyck & Rubinfeld, Microeconomics, 4.1 4.2 Wednesday, September 9: Demand II Read Pindyck & Rubinfeld, Microeconomics, 2.3, 2.4, 4.3 4.5 Turn in Assignment No. 1 Monday, September 14: Demand III Wednesday, September 16: Choice with Uncertainty I Read Pindyck & Rubinfeld, Microeconomics, 5.1, 5.2 Monday, September 21: Choice with Uncertainty II Read Pindyck & Rubinfeld, Microeconomics, 5.3, 5.4 Wednesday, September 23: Choice with Uncertainty III Turn in Assignment No. 2 Monday, September 28: TBA Wednesday, September 30: Midterm Exam No. 1 (covers all material to date) Monday, October 5 No class II. Supply Wednesday, October 7: Firms and Production Read Pindyck & Rubinfeld, Microeconomics, 6.1 6.4
Monday, October 12: Costs Read Pindyck & Rubinfeld, Microeconomics, 7.1 7.4 III. Markets Wednesday, October 14: Competition I Read Pindyck & Rubinfeld, Microeconomics, 8.1 8.5 Monday, October 19: Competition II Read Pindyck & Rubinfeld, Microeconomics, 8.6 8.8 Wednesday, October 21: Competition III Read Pindyck & Rubinfeld, Microeconomics, 9.1 9.5 Turn in Assignment No. 3 Monday, October 26: Competition IV Read Pindyck & Rubinfeld, Microeconomics, 9.6 Wednesday, October 28: Monopoly Read Pindyck & Rubinfeld, Microeconomics, 10.1 10.4 Monday, November 2: Pricing with Market Power Read Pindyck & Rubinfeld, Microeconomics, 11.1 11.2 Wednesday, November 4: Monopsony and Monopolistic Competition Read Pindyck & Rubinfeld, Microeconomics, 10.5, 10.6 and 12.1 Turn in Assignment No. 4 Monday, November 9: Midterm Exam No. 2 (covers all material since first exam) Wednesday, November 11: Game Theory Read Pindyck & Rubinfeld, Microeconomics, 13.1 13.3 Monday, November 16: Oligopoly I Read Pindyck & Rubinfeld, Microeconomics, 12.2 Wednesday, November 18: Oligopoly II Read Pindyck & Rubinfeld, Microeconomics, 12.3 Turn in Assignment No. 5
IV. Special Topics Monday, November 23: Input Markets Read Pindyck & Rubinfeld, Microeconomics, 12.3 Wednesday, November 25 No class, Thanksgiving recess. Monday, November 30: TBA Wednesday, December 2: TBA Turn in Assignment No. 6 Monday, December 7: TBA Friday, December 11, 2 5 PM Final Exam (Location to be announced)
Discussion Section Schedule Thursday, August 27: Organize homework groups Thursday, September 10: Review homework assignment no. 1 Thursday, September 24: Review homework assignment no. 2 + exam review Thursday, October 1: Review exam no. 1 Thursday, October 22: Review homework assignment no. 3 Thursday, November 5: Review homework assignment no. 4 + exam review Thursday, November 12: Review exam no. 2 Thursday, November 19: Review homework assignment no. 5 Thursday, December 3: Review homework assignment no. 6 Thursday, December 10: Final exam review