Econ 3012



Class Notes

Class Notes (Small Screen Version)


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.

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 analytic reasoning. A review of the relevant mathematical concepts will occur on the first day of class.

Problem Sets

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.

Exams and Grading

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.

Office Hours / Teaching Assistant

Greg's office hours: TBA. TA: TBA.


Problem Set 1.

Problem Set 2.

Problem Set 3.

Problem Set 4.

Problem Set 5.

Supply Practice.

Oligopoly Practice.


Week 0: Overview of Syllabus & Chapter, Budget Constraint.

Week 1:

Budget Constraint, Preferences. Please Read: Review of Functions.

Week 2:

Preferences, Utility.

Week 3:


Week 4:


Week 5:

Slutsky Equation, Buying and Selling

Week 6:

Buying and Selling, Intertemporal Choice

Week 7:

Market Demand

Midterm Exam (Monday March 21st)

Midterm exam covering material up to and including Market Demand. Key Concepts- Updated for Spring 22.
Copy of 2022 Midterm

Week 8:

Midterm Exam, Equilibrium

Week 9:


Week 10:

echnology, Profit Maximization

Week 11:

Cost Minimization, Firm Supply

Week 12:

Industry Supply, Monopoly

Week 13:

Monopoly Behavior

Week 14:


Final Exam (Cumulative) Saturday, May 7 9:00-11:00am. Calhoun 337

Key Concepts- Updated for Spring 22.

Additional Resources

Extra Practice Problems

Selected Solutions for Practice Problems (Updated 12/15/2021)

Problems Relevant to 2022 Final: 1,2,3,4,5,6,7,8,11,12,15,16,17,18,19,20,21,22 (Except D,E),23,24,25,26 (Only D,E),27,28 (Except B,D),32