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# :~/Econ 3012

This is the course website for Vanderbilt Economics 3012. This page will be continuously updated throughout the semester. **Please check it regularly**.

3012 focuses on the formal analysis of the *behavior of individuals and firms* and how these behaviors aggregate in *markets*. We will analyze market performance and determine how performance is influenced by various changes.

Some concepts and formulas from differential calculus will be used, but most of the presentations, homework, and exams will involve diagrams, algebra and analytic reasoning. **I emphasize intuition and deep understand over the mechanical process of solving problems.**

There will be **one midterm** and a **final exam**. They are tentatively placed in the schedule below. Grading will be based **30% on the midterm** exam, **50% on the final exam**, and **20% on homework**.

**Class meets 9:30-10:45 in Furman 311**.

The **TA** for this course is **Qiao Lin**--
Email

**Qiao's office hours**: Wednesday 10-12

Qiao's Zoom

**Greg's office hours**: Tuesday 11-12 Calhoun 404.

## Textbook

You will need a copy of the Workouts in Intermediate Microeconomics.

**Please get the latest edition of this book** since that is the problem numbering I will use in the problem sets.

The class notes below are the *official* textbook for the course.

Hal Varian's Intermediate Microeconomics with Calculus: A Modern Approach covers very similar material if you want a supplementary textbook. Any edition of this textbook should be fine.
## Class Notes

These class notes are a polished version of what I cover in class.

Class Notes

## Problem Sets

Problem sets will consist of selections from problems in the workouts book, as well as problems I have written. I encourage working on the homework in groups. The homework will be graded by the teaching assistant. I will add the due dates below as we move through the semester.

Problem Set 1. Due: 2/07/2023

Solutions.

Workout Solutions.

Problem Set 2. Due: 2/16/2023

Solutions.

Workout Solutions.

Problem Set 3. Due: 3/02/2023

Solutions.

Workout Solutions.

Problem Set 4. Due: 3/30/2023

Solutions.

Workout Solutions.

Problem Set 5. Due: 4/18/2023

Solutions.

Workout Solutions.

Problem Set 6. (This material will not be on the exam)
Solutions.

Workout Solutions.

## Schedule

### Week 0 : Overview of Syllabus & Budget Constraint (1/10,1/12)

### Week 1 : Budget Constraint, Preferences (1/17,1/19)

Please Read: Review of Functions. If this stuff is familiar to you, you are probably good-to-go for the class. Otherwise (*don't panic*), you should talk to me or Qiao about what you can do to review the math you will need for the course.
### Week 2 : Preferences, Utility (1/24,1/26)

### Week 3 : Choice (1/31,2/02)

PDF of Notes from 1/31

PDF of Notes from 2/02

### Week 4 : Demand, Slutsky Decomposition (2/07,2/09)

PDF of Notes from 2/07

PDF of Notes from 2/09

### Week 5 : Buying/Selling, Intertemporal Choice (2/14,2/16)

PDF of Notes from 2/14

PDF of Notes from 2/16

### Week 6 : Market Demand, Equilibrium (2/21,2/23)

PDF of Notes from 2/21

PDF of Notes from 2/23

### Week 7 : Equilibrium (2/28,3/02)

### Midterm Exam **March 7**

The exam covers material up to and including Market Demand.

**Key Concepts For Spring 2023**

Key Concepts.

Midterm Copy with Solutions.

### Week 8 : **Midterm Exam**

Solution

### Spring Break

### Week 9 : Technology

PDF of Notes from 3/21

PDF of Notes from 3/23

### Week 10 : Cost Minimization/Profit Maximization

PDF of Notes from 3/28

### Week 11 : Monopoly,Monopoly Behavior

PDF of Notes from 4/4

PDF of Notes from 4/6

### Week 12 : Oligopoly

PDF of Notes from 4/11

PDF of Notes from 4/13

### Week 13 : Review

## Final Exam (Cumulative) **April 28, 3PM**

**Key Concepts For Spring 2023**

Key Concepts.
## Additional Practice

Extra Practice Problems

Problem pages with material not covered this semester: 9, 10, 13, 14, 22 (D,E), 26, 28 (B,D), 29, 30, 31.

Copy of Spring 2022 Midterm

Copy of Spring 2022 Final

Copy of Fall 2022 Midterm

## Selected Solutions for Additional Practice

Selected Solutions for Practice Problems

Solutions for Spring 2022 Midterm

Solutions for Spring 2022 Final

Solutions for Fall 2022 Midterm