Class Notes (Updated: 11/20/2021)
This is the course website for Vanderbilt Economics 3012. 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.
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. A review of the relevant mathematical concepts will occur on the first day of class.
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 will consist of selections from problems in the workouts book, as well as problems I have written. 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.
There will be one midterm and a final exam. They are tentatively placed in the schedule below. Grading will be based 30% on midterm exam, 50% on the final exam, and 20% on homework.
Greg's office hours: Thursday 11:00-12:00pm. TA: Qiao Lin. Office Hours: 1-3 pm every Wednesday. Zoom link: https://vanderbilt.zoom.us/j/8238830135. E-mail: email@example.com.
Make sure you do the right workbook problems. Chapter 19 should be technology and chapter 21 should be cost minimization. Older workbooks have different chapter numbering.
Chapter 2.1-2.7: Budget Constraint. Chapter 3.1-3.8: Preferences. Please Read: Review of Functions.
Chapter 3.1-3.8: Preferences. Chapter 4.1-4.5: Utility
Chapter 5.1-3&5.5 (Skip Lagrange Method).
Chapter 6.1-6.8: Demand.
Chapter 8.1-8.5,8.6-8.7: Slutsky Equation, Chapter 9.1-9.4: Buying and Selling
Chapter 9.1-9.4: Buying and Selling, Chapter 10.1-10.5: Intertemporal Choice
Chapter 15.1-15.2,15.5-15.6,15.8,15.11: Market Demand
Copy of Midterm
October 21 Midterm exam covering Chapters 1-6 & 8,9,10 Key Concepts.
Review, Midterm Exam
Chapter 16.1-16.9: Equilibrium Video Lecture for 10/27
Chapter 19.1-19.10 Technology, Chapter 20.1,20.5-20.10: Profit Maximization
Chapter 21.1,21.3-21.6: Cost Minimization, Chapter 22.1-22.3,22.5: Cost Curves
Chapter 23.1-23.9: Firm Supply
Chapter 24.1-24.6: Industry Supply, Chapter 25.1-25.7: Monopoly
Chapter 26.1-26.6: Monopoly Behavior, Chapter 32.1-32.7, 32.9-32.13: Exchange
Final Exam: cumulative exam. Friday December 17 at 9:00am.
Spring 2020 Virtual Lectures ch. 16-22
Extra Practice Problems
Relevant problems for midterm exam: 1,2,3,4,7,11(A-D),12,15,16,17,18,19,20,25,28(A,C)
Selected Solutions for Practice Problems (Updated 10/18/2021)