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SL354, Intermediate Microeconomics

SL354, Intermediate Microeconomics. Monday . Tuesday . Thursday . Friday . Week 1 : March 3 – 7 . Introduction Varian, 1. Budget Constraints Varian, 2. Preferences Varian, 3. Utility Varian, 4. Week 2 : March 10 – 14 . Choice Varian, 5. Consumer Demand Varian, 6 [7].

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SL354, Intermediate Microeconomics

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  1. SL354, Intermediate Microeconomics Monday Tuesday Thursday Friday Week 1 : March 3 – 7 Introduction Varian, 1 Budget Constraints Varian, 2 Preferences Varian, 3 Utility Varian, 4 Week 2 : March 10 – 14 Choice Varian, 5 Consumer Demand Varian, 6 [7] S. & I. Effects Varian, 8 Problem Set 1 Thaler, 1 – 3 Week 3 : March 17 – 21 Exam 1 Buying & Selling Varian, 9 Buying & Selling Varian, 9 Intertemporal Choice Varian, 10; Thaler, 8 – 9 Week 4 : March 24 – 28 Market Demand Varian, 15 Equilibrium Varian, 16 Problem Set 2 Exam 2 Week 5 : April 7 – 11 Asset Markets Varian, 11 Uncertainty (Risk) Varian, 12 Risky Assets Varian, 13 Portfolio Theory TBD Week 6 : April 14 – 18 Loss Aversion, etc. Thaler, 6 – 7 Capital Markets I Thaler, 10 – 11 Capital Markets II Thaler, 12 and 14 Problem Set 3 Week 7 : April 21 – 25 Exam 3 Technology Varian, 18 Profit Maximization Varian, 19 Exchange Varian, 31 Week 8 : April 28 – May 2 Production Varian, 32 Welfare Varian, 33 General Equilibrium TBD Problem Set 4 Week 9 : May 5 – 9 Exam 4 Auctions Varian, 17 Auctions Thaler, 5 Externalities Varian, 34 Week 10 : May 12 – 16 Information Varian, 35 Asymmetric Information Varian, 37 Problem Set 5 Thaler, 15 Exam 5

  2. Buying & Selling Initial Endowment Net Demander of good Initial Endowment Net Supplier of good Net Demander of good Net Supplier of good

  3. Buying and Selling: Consumer Choice Theory with Endowments Decomposition of effects of a price change into substitution, ordinary income and endowment income effects: Price decrease of a good currently being demanded. • • • • • SE OIE EIE

  4. Buying and Selling: Consumer Choice Theory with Endowments Decomposition of effects of a price change into substitution, ordinary income and endowment income effects: Price increase of a good currently being demanded. • • • • • OIE SE EIE

  5. Buying and Selling: Consumer Choice Theory with Endowments Decomposition of effects of a price change into substitution, ordinary income and endowment income effects: Price decrease of a good currently being supplied. • • • • • SE OIE EIE

  6. Buying and Selling: Consumer Choice Theory with Endowments Decomposition of effects of a price change into substitution, ordinary income and endowment income effects: Price increase of a good currently being supplied. • • • • • OIE SE EIE

  7. Labor-leisure tradeoffs and labor supply Consumption, C • • Leisure, l Leisure Labor

  8. Labor-leisure tradeoffs and income taxes C • • • • • l OIE SE Labor Supply? EIE

  9. Intertemporal Trades • • Borrowing in period 1

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