This site provides information about the course, and materials and references useful to prepare it.
Instructor: Martin Dumav (Office Hours: by appointment.)
Mondays and Wednesdays from 10:30 to 12:00 p.m.
Masera (Office Hours: by appointment.)
Course Description: This course provides an introduction to microeconomic theory designed to meet the needs of students in the economics Ph.D. program. Some parts of the course are designed to teach material that all graduate students should know. Others are used to introduce methodologies. The topics include some of the most fundamental topics of classical microeconomics: Consumer and Producer Theory, General Equilibrium Theory and Welfare Economics for a market economy, and Tools of Comparative Statics. .
Mas-Colell, M. Whinston and J.Green, Microeconomic Theory, Oxford
D. Kreps, A course in Microeconomic Theory, Princeton U Press, 1990
G. Jehle, and P. Reny, Advanced Microeconomic Theory, Prentice-Hall 2000
Course Outline and Readings:
The following list provides main structure of the course and related material in MWG.
||Consumer Theory: preference, utility functions, utility maximization, demand functions, indirect utility functions, expenditure minimization, duality, comparative statics, revealed preference (Chapters 1 to 4)
||Social Choice Theory: preferences aggregation, social choice functions, Arrow's Theorem (Chapter 21)|
||Production Choice: technology, production sets, profit maximization and cost minimization, input demands, supply function (Chapter 5)|
||Choice under Uncertainty: expected utility theory (Chapter 6)|
||Partial Equilibrium: supply and demand, equilibrium in competitive markets, efficiency, taxes, subsidies, price controls (Chapter 10)
||General Equilibrium in Competitive Economies: partial and general equilibrium, existence of competitive equilibrium, cooperative and non-cooperative foundations of the competitive equilibrium, welfare theorems (Chapter 15 to 18)|
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