11.203 | Fall 2010 | Graduate
Microeconomics

Calendar

SES # TOPICS
1

Course overview

Economic efficiency

Introduction to supply and demand

2

Supply and demand, cont.

Price elasticity of demand

Price elasticity of supply

Income elasticity of demand

3

Supply and demand, cont.

Problems in the U.S. labor market

Optional math review

Optional session to explain first derivatives

The basic calculus operation to be used in the course.

4

Behind the demand curve

Utility theory

The allocation of scarce resources

5

Behind the demand curve, cont.

Income and substitution effects

Consumer surplus

6 The housing and financial bubbles
7

Technology, costs, returns to scale

8

Technology, costs, cont.

Profit maximization

9 Midterm 1
10

Perfect competition

Entry and exit

11

Perfect competition, cont.

Overview of general equilibrium

12 Imperfect competition I—Monopoly
13 Imperfect competition II—Price discrimination, monopolistic competition
14-15 Imperfect competition III—Oligopoly and game theory
16 Capstone example: Why medical costs rise so fast (including brief discussion of the effects of medical uncertainty, agency and the pernicious role of incentives, etc.)
17 Midterm 2
Course Info
Instructor
As Taught In
Fall 2010
Level
Learning Resource Types
assignment_turned_in Problem Sets with Solutions
grading Exams with Solutions