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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 they interact.

Some concepts and formulas from differential calculus will be used. 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 8:40-9:55 (Or Whatever) in Furman.

The TA for this course is Yuhan Chen-- Email

Yuhan's office hours: Tuesday 1-3pm Stevenson 1115.

Greg's office hours: Monday 10-11am or by Appointment 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 (Updated 12/01 with Equilibrium Graphs)

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. Solutions (Due: 2/5)

Problem Set 2. Solutions (Due: 2/19)

Problem Set 3. (Due: 2/28)

Problem Set 4. (Due: TBA)

Problem Set 5. (Due: TBA)

Problem Set 6. (Due: TBA)

Schedule

Week 0 : Overview of Syllabus & Budget Constraint. Notes from 1/10

Week 1 : Budget Constraint, Preferences. Notes from 1/17

Week 2 : Preferences, Utility. Notes from 1/22, Notes from 1/24

Week 3 : Choice. Notes from 1/29 Notes from 1/31 Video Lecture for 1/31

Week 4 : Demand, Slutsky Decomposition. Notes from 2/5, Notes from 2/7

Week 5 : Slutsky Decomposition, Buying/Selling, Intertemporal Choice. Notes from 2/12, Notes from 2/14

Week 6 : Market Demand, Equilibrium. Notes from 2/19, Notes from 2/21

Week 7 : Equilibrium. Notes from 2/26 Notes from 2/28

Week 8 : Midterm Exam Mar 4

The exam covers material up to and including Market Demand.

Key Concepts For Spring 2024

Key Concepts.

Spring Break

Week 9 : Technology.

Week 10 : Cost Minimization/Profit Maximization

Week 11 : Monopoly,Monopoly Behavior

Week 12 : Oligopoly, Externalities

Week 13/14 : General Equilibrium

Week 14: General Equilibrium/Review

April 24 9:00am Final Exam (Cumulative)

Key Concepts For Fall 2023

Key Concepts.

Old Exams / Additional Practice

Extra Practice Problems

Questions with material covered in key topics for Spring 2023 midterm:

1,2,3,4(A,B),7,8,11(A-D),12(A,B),15,16,17,18(A,B),19,20,21(A),22(B),25,28(A,C,E)

Selected Solutions for Practice Problems

Copy of Spring 2022 Midterm

Solutions for Spring 2022 Midterm

Copy of Spring 2022 Final

Solutions for Spring 2022 Final

Copy of Fall 2022 Midterm

Solutions for Fall 2022 Midterm

Copy of Fall 2022 Final

Solutions for Fall 2022 Final

Copy Spring 2023 Midterm+Solutions.

Copy of Spring 2023 Final

Solutions for Spring 2023 Final

Copy Fall 2023 Midterm.

Solution for Fall 2023 Midterm.