Economics 711: Microeconomic Theory

Fall 2011
1-2:15 and 2:30-3:45, Microbial Sciences Bldg 1510

John Kennan, 6434 Social Science, jkennan@ssc.wisc.edu
Office Hours: Monday, 1:30-3:30

TAs:

Michael Batty 7439 Social Science mbatty@wisc.edu

Jose Antonio Carrasco 6439 Social Science jcarrasco@wisc.edu

This course is the first of four modules in the basic microeconomics sequence. We will study supply and demand.

Text:
Microeconomic Theory, by Andreu Mas-Colell, Michael D. Whinston, and Jerry R. Green, Oxford University Press, 1995.

There will be weekly problem sets, on assorted topics, including some that may be related to the material being covered in class. These problem sets will be graded, and reviewed in discussion sections.

Topics:

• Preferences
  • Text, Chapter 1.
• Consumer Choices
  • Text, Chapter 2.
• Utility Maximization
  • Text, Chapter 3.
• Aggregation
  • Text, Chapter 4.
• Supply
  • Text, Chapter 5.
• Risk
  • Text, Chapter 6.

Grades:

There will be an exam on Tuesday, October 25 (in class). This exam counts for 35% of the grade for Econ 711, and the problem sets count for 15% (the second half of 711 determines the other 50%).