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LMU Intermediate Micro - 3100

This is the course website for LMU Economics 3100. This page will be continuously updated throughout the semester. Please check it regularly. 3100 focuses on the formal analysis of the behavior of individuals and firms and how they interact. This class will be conducted in a flipped classroom style. Class time will be devoted to problem-solving, applications, and active learning exercises. However, there will also be some short lectures. Students should review lecture notes before class. Grading will be based on the following distribution: 35% Midterm exam, 35% Final exam, 15% Homework, 15% Weekly quizzes.

Quiz Policy

Weekly quizzes are intended encourage reading before class. The quizzes will consist of a few relatively easy questions to test your comprehension of the weekly readings. To account for absences, illness, or other conflicts, the lowest 4 quiz scores will be dropped automatically.

Policies

The Academic Honesty policies apply to this course. For policies regarding accommodations and disabilities, please see the DSS website.

Times

Class Meetings:

Section 01: Monday/Wednesday 9:55-11:35 (UNH 3111)

Section 02: Monday/Wednesday 11:55-1:30 (UNH 2001) Greg's office hours: T 9:00-10:00, Th 1:15-2:15. University Hall 4225 / Zoom and by Appointment.

Textbook

Course Notes

Problem Sets

There will be a problem set due roughly every two weeks. You can turn in your problem sets on the due date by submitting a scan on brightspace. The exercises are available in a dedicated section of course notes Please check the table of contents for a hyperlink to the exercises. Solutions will be posted shortly after the due date.

Problem Set 1. Exercises from Chapters 1-3. (Due 9/24)

Solutions for Problem Set 1

Problem Set 2. Exercises from Chapters 4-7. (Due 10/8)

Solutions for Problem Set 2

Problem Set 3. Exercises from Chapters 8-9.(Due 10/20)

Solutions for Chapter 8

Problem Set 4. Exercises from Chapters 10-11.(Due 10/29)

Problem Set 5. Exercises from Chapters 12-13.(Due 11/5)

Problem Set 6. Exercises from Chapters 14-15.(Due 11/12)

Problem Set 7. Exercises from Chapters 16-17.(Due 11/19)

Problem Set 8. Exercises from Chapters 18-19.(Due 12/1)

Exercises

Exercises - Chapter 1

Exercises - Chapter 2

Exercises - Chapter 3

Exercises - Chapter 4

Exercises - Chapter 5

Exercises - Chapter 6

Exercises - Chapter 7

Exercises - Chapter 8

Exercises - Chapter 9

Schedule

Week 1: Bundles & Budget (Chapter 1)

Week 2: Binary Relations (Chapter 2)

Weekly quiz on 9/3. Chapter 2

Week 3 (9/8, 9/10): Binary Relations (Chapter 2), Preferences (Chapter 3)

Weekly quiz on 9/10. Chapter 3

Week 4 (9/15, 9/17) Preferences (Chapter 3), Utility (Chapter 4)

Weekly quiz on 9/17. Chapter 4 & 5

Week 5 (9/22, 9/24): Utility (Chapter 4), Well Behaved Preferences (Chapter 5)

No quiz this week.

Week 6 (9/29, 10/1): Constrained Optimization (Chapter 6), Demand (Chapter 7)

Weekly quiz on 9/29. Chapter 6 & 7

Raw Class Notes 10/1

Week 7 (10/6, 10/8): Slutsky Decomposition (Chapter 8), Buying/Selling (Chapter 9).

Weekly quiz on 10/6. Chapter 8 & 9 Raw Class Notes 10/6

Raw Class Notes 10/8 9:55

Raw Class Notes 10/8 11:50

Midterm 10/15 Chapters 1-8

Problem set exercises similar to things that might appear on the exam:

Ch. 1 Exercises: 1-6, Ch. 2 Exercises: 1-5, Ch. 3 Exercises: 1-3,6-9, Ch. 4 Exercises: 1-10, Ch. 5 Exercises: 1-5, Ch. 6 Exercises: 1-3,5,8,10,13,14, Ch. 7 Exercises: 1-3,6-9, Ch. 8 Exercises: 1-3.

Week 8 (10/13, 10/15) Review & Midterm Covers Chapters 1-8

Raw Class Notes 10/13 9:55

Raw Class Notes 10/13 11:50

Week 9 (10/20, 10/22): Market Demand and Elasticity (Chapter 10) Equilibrium (Chapter 11)

Weekly quiz on 10/22. Chapter 11

Week 10 (10/27, 10/29): Production (Chapter 12), Cost Minimization (Chapter 13)

Weekly quiz on 10/27. Chapter 12 & 13

Week 11 (11/3, 11/5): Profit Maximization: Price Taking (Chapter 14), Monopoly (Chapter 15)

Weekly quiz on 11/3. Chapter 14 & 15

Week 12 (11/10, 11/12) Price Discrimination (Chapter 16), Oligopoly Models of Competition (Chapter 17)

Weekly quiz on 11/10. Chapter 16 & 17

Week 13 (11/17, 11/19): Exchange (Chapter 18), Externalities (Chapter 19)

Weekly quiz on 11/17. Chapter 18 & 19

Week 14 (11/24, X 11/26 Thanksgiving Holiday): Collusion and Cooperation (Chapter 20)

Weekly quiz on 11/24. Chapter 20

Week 15 (12/1, 12/3): Spill-Over, Review

Final Exam

LMU Final Exam Schedule

Other Resources

Some Old Exam Questions

Spring 2025 Midterm Exam

Spring 2025 Midterm Exam Solution