APEC 710 Microeconomic Theory I

Fall 2009

Class website: http://www.cabnr.unr.edu/kilkenny/APEC710/Index.htm

Lectures: Tu-Th 9 – 10:45 Room: FA 233

Instructor: Maureen Kilkenny

Office: 220e Fleischmann Agriculture

Telephone: 784-6785

E-mail: kilkenny@unr.edu

Office hours: Wednesday 2:30-4:00 pm and by appointment

Course Overview

This course concerns decision-making by individual firms and households as producers, employers, and consumers, in static partial equilibrium. It is the penultimate graduate core microeconomic theory course. The objectives of the course are to help prepare candidates to do self-directed basic research as well as to pass PhD qualifying exams in Microeconomic Theory.

A theorem is an internally consistent logical proposition (or hypothesis) and proof. A theory is a hypothesis that has not been rejected by the data. In this course we develop our expertise in the use of formal logic to prove theorems about economic fundamentals, and, to express hypotheses in general terms, that is, without explicit functional forms. We practice drawing out testable hypotheses and study existing empirical tests of basic microeconomic theories.

Prerequisites

Students should have a working knowledge of linear or matrix algebra, formal logic, and probability; and be competent at intermediate microeconomic theory with calculus.

Required Text:

Mas-Colell, Whinston, and Green: Microeconomic Theory (1995)

Recommended Texts:

Binger & Hoffmann Microeconomics with Calculus (1997)

Chambers Applied Production Analysis (1988)

Jehle and Reny Advanced Microeconomic Theory (2001)

Silberberg, et al The Structure of Economics: A Mathematical Analysis (2000)

Stinespring Mathematica for Microeconomics (2002)

Varian Microeconomic Analysis (1992)

Homework, Exams, and Grading:

Homework consists of reading, solving problems, and preparing to present the assigned material in class. You are encouraged to work together as often as possible except on exams. We will strictly follow UNR regulations on academic standards and (dis)honesty, as published in the Student Handbook: http://www.unr.edu/stsv/acdispol.html.

30 % of one’s course grade is based on one’s in-class performance. There will also be two midterm exams, each worth 35% of the grade, and a compensatory final exam worth a 35%. By compensatory is meant that the final exam is comprehensive, covering the same material as the midterms, and that scores on final exam questions can substitute for less than perfect scores on corresponding midterm exam questions.