Econ 6100

Intro

This is the course website for Vanderbilt Economics 6100. This course focuses on the formal analysis of the behavior of individuals and firms and how these behaviors aggregate in a market. We will analyze market performance and determine how performance is influenced by various changes. This page will be continuously updated throughout the semester. Please check it on a regular basis. Consider subscribing to changes using a service such as Visual Ping or Wachete.

Mathematical Level

Some concepts and formulas from differential calculus will be used, but most of the presentations, homework and exams will involve diagrams, algebra and analytical reasoning. A review of the relevant mathematical concepts will occur on the first day of class.

Textbook(s)

Intermediate Microeconomics with Calculus: A Modern Approach by Hal R. Varian.
Workouts in Intermediate Microeconomics (Ninth Edition), by Theodore C. Bergstrom and Hal R. Varian.

Problem Sets

Problem sets will consist of selections from the odd-numbered problems in the Workouts” book, as well as problems written by the instructor. The problem sets will be posted on this page in the schedule below. I encourage working on the homework in groups. The homework will be graded by the teaching assistant, and reviewed by the instructor.

Exams and Grading

There will be two midterms and a final exam. They are tentatively placed in the schedule below. Grading will be based 40% on midterm exams, 40% on the final exam, and 20% on homework.

Office Hours / Teaching Assistant

My office hours: Tuesday 2:00-3:00 or by appointment in Calhoun 404. Matthew Chambers (TA) office hours: TBA.

Schedule

Week 1: Aug. 22
Overview of Syllabus and Mathematical Review.
Please Read: Review of Functions.
Problem Set(Due 8/29).

Week 2: Aug. 27, 29
Chapter 2.1-2.7: Budget Constraint and Chapter 3.1-3.8: Preferences

Week 3: (Sept. 3,5)
Chapter 3.1-3.8: Preferences and Chapter 4.1-4.5: Utility

Problem Set 1(Due 9/17)

Week 4: (Sept. 10, 12) Chapter 5.1-3&5.5 (Skip Lagrange Method).

Week 5: (Sept. 17, 19) Chapter 6.1-6.8: Demand. Chapter 8.1-8.7: Slutsky Equation

Problem Set 2:
Workouts: 6.1, 6.3, 6.5, 6.7, 8.1, 8.5, 8.10, 8.11, 9.1, 9.3, 9.11, 10.1, 10.3, 10.9. For additional practice try 6.11 and 8.7 (No need to turn these two problems in.)

Week 6: (Sept. 24, 26): Exam, Chapter 9.1-9.4: Buying and Selling and Chapter 10.1-10.5: Intertemporal Choice

Sept. 26: Midterm exam covering Chapters 1-6 & 8

Week 7: (Oct. 1, 3) Chapter 15.1-15.2,15.5-15.6,15.8,15.11: Market Demand and Chapter 16.1-16.9: Equilibrium

Week 8: (Oct. 8, 10) Chapter 19:.1-19.10 Technology and Chapter 20.1,20.5-20.10: Profit Maximization

Week 9: (Oct. 15, 17) Chapter 21.1,21.3-21.6: Cost Minimization and Chapter 22.1-22.3,22.5,22.7: Cost Curves

Week 10: (Oct.22, 24) Chapter 23.1-23.9: Firm Supply and Chapter 24.1-24.6: Industry Supply

Week 11: (Oct. 29, Oct. 31): Review of Chapters 9-10, 15-16 and 19-22, Exam, Chapter 25.1-25.7: Monopoly

Oct. 31: Midterm exam covering Chapters 9-10, 15-16 and 19-22

Week 12: (Nov. 5, 7) Chapter 26.1-26.6: Monopoly Behavior and Chapter 32.1-32.7, 32.9-32.13: Exchange

Week 13: (Nov. 12, 14) Chapter 34.1-34.3, 34.5-34.6: Welfare and Chapter 35.1,35.3-35.6: Externalities

No Class Nov. 20,22- Thanksgiving Holiday

Week 14: (Nov. 26, 28) Chapter 37.1-37.7,37.9: Public Goods

Week 15: (Dec. 3,5) Review.

Final Exam: Week of Decemeber 10; cumulative exam.