ECONOMICS
6401: Microeconomic Theory I
Fall 2003 - Syllabus
TTH 9:30 – 10:45, BC-306
Instructor:
Nicholas
G. Rupp
Office: Brewster
A-437
Office Hours: M-Th
3:30-4:30
Phone #: 252.328.6821
Fax #: 252.328.6743
E-mail: ruppn@mail.ecu.edu
Home page: http://personal.ecu.edu/ruppn/
Description
This course covers demand and supply analysis, elasticity,
utility, production functions, cost minimization, profit maximization, optimal
pricing and risk analysis. While many of these same topics are covered in
Intermediate Microeconomics, this class will present these topics in more
mathematical rigor. We will extensively use equations, algebra, and basic
calculus. Graphical approaches will also be presented.
Textbook
The required text is Microeconomics: An Integrated
Approach by David Besanko & Ronald R. Braeutigam (Wiley, 2002). Assigned
readings appear in the course outline on the next page.
Grading
The final course grade will be assigned on a curve, with a
class average around a B+. The weighting of the grade is comprised of the
following:
·
Homework = 20%
·
Midterm I = 25%
·
Midterm II = 25%
·
Final (Comprehensive) Exam = 30%
Attendance
Class attendance is optional, however, students who miss
class will likely do poorly.
Make-up Exams:
If you cannot take an exam on the scheduled date, you must (1) let me know
BEFORE the test, AND (2) provide documentation for your absence. Failure to do
EITHER (1) or (2) will result in a grade of 0 on the missed test. No
make-up tests will be given. Unexcused missed tests will result in a 0 on
that test. The weight of an excused missed test will be transferred to the
final comprehensive exam.
Weather Emergencies: Information
is available at the ECU emergency alert website (http://www.ecu.edu/alert) and the ECU emergency information hotline
(252-328-0062).
Americans with
Disabilities Act
East Carolina University seeks to fully comply with the
Americans with Disabilities Act (ADA). Students requesting accommodations based
on a covered disability must go to the Department for Disability Services,
located in Brewster A-114, to verify the disability before any accommodations
can occur. The telephone number is (252) 328-6799.
Academic Integrity
All students that violate the ECU Student Honor Code (http://www.ecu.edu/studenthandbook/)
will receive an “F” in the course. All violators will be turned over to the
Academic Integrity Board.
Class |
Dates |
Chapter |
Pages |
Topic |
|
1 |
28-Aug |
2 |
26-46 |
Supply
& Demand Review |
|
2 |
2-Sept |
2 |
26-46 |
Supply
& Demand Review |
|
3 |
4-Sept |
Appendix |
763-72 |
Derivatives
(Last day to add) |
|
4 |
9-Sept |
2 |
46-55 |
Price
Elasticity of Demand |
|
5 |
11-Sept |
2 |
55-60 |
Income
Elasticity & Cross-Price Elasticity of Demand |
|
6 |
16-Sept |
2 |
60-73 |
Long-run
Elasticity & calculations |
|
7 |
18-Sept |
2 |
|
Midterm #1 |
|
8 |
23-Sept |
3 |
81-84 |
Midterm
#1 Answers & preferences |
|
9 |
25-Sept |
3 |
84-96 |
Utility
Functions & Indifference Curves |
|
10 |
30-Sept |
3 |
96-107 |
Atypical
Indifference Curves & Marginal Rate of Substitution |
|
11 |
2-Oct |
4 |
112-130; |
Budget
constraint & Optimal Bundles |
|
|
6-Oct |
|
|
Drop Deadline |
|
12 |
7-Oct |
6 |
216-229 |
Production
Function – Total, Average, Marginal, Isoquants |
|
13 |
9-Oct |
6 |
230-245 |
Production
Function – MRTS, Elasticity of Substitution |
|
|
14-Oct |
|
|
No Class: Fall Break |
|
14 |
16-Oct |
6 |
245-253 |
Production
Function – Returns to scale and Technological Progress |
|
15 |
21-Oct |
7 |
268-276 |
Cost
Minimization, Lagranians (297-98), Input Demand Curves |
|
16 |
23-Oct |
8 |
301-320 |
Cost
Curves & Economies of Scale |
|
17 |
28-Oct |
8 |
320-338 |
Costs
Curves |
|
18 |
30-Oct |
3,4,6-8 |
|
Midterm #2 |
|
19 |
4-Nov |
9 |
347-349 |
Midterm
#2 Answers & Perfect Competition |
|
20 |
6-Nov |
9 |
349-369 |
Perfect
Competition & Profit Maximization |
|
21 |
11-Nov |
9 |
369-403 |
Perfect
Competition & Long-run Equilibrium |
|
22 |
13-Nov |
10 |
410-418 |
Taxes,
Subsidies, Price Floors and Price Ceilings |
|
23 |
18-Nov |
11 |
463-485 |
Monopoly
& Profit Maximization |
|
24 |
20-Nov |
11 |
485-503 |
Monopoly
– Multiplant & Comparative Statics |
|
25 |
25-Nov |
11 |
485-503 |
Monopoly
|
|
|
27-Nov |
|
|
No Class: Thanksgiving Break |
|
26 |
2-Dec |
12 |
515-538 |
Price
Discrimination – 1st, 2nd, & 3rd Degree |
|
27 |
4-Dec |
12 |
538-546 |
Bundling,
Tying, and Advertising |
|
28 |
9-Dec |
13 |
551-569 |
Duopolies:
Cournot & Bertrand Models |
|
29 |
18-Dec |
|
|
Final Comprehensive Exam
8:00 am –10:30 am |