Topics for First Half of Course (approximately one week per topic)

1. Preferences, Utility Functions and Utility Maximization

   MWG, pp. 3-9, 17-28, 40-57 and 926-935

   Problem Set #1 Assigned

   No Discussion Section on September 1 or 3

    

2. Review of Kuhn-Tucker Theory / Envelope Theorem and Applications

   MWG, pp. 935-966 (especially pp. 935-943 and 954-966)

   Handout on Kuhn-Tucker Conditions

   Handout on Envelope Theorem

    

   This material may possibly be covered out of order

    

3. Expenditure Minimization, Hicksian Demands and Slutsky Equation

   MWG, pp. 57-75

   Problem Set #2 Assigned

    

4. Integrability, Substitutes Preferences, Submodularity and Walrasian Tâtonnement

   MWG, pp. 75-95, 620-625

   Problem Set #3 Assigned

    

5. Welfare Evaluation, Revealed Preference and Aggregate Demand

   MWG, pp. 9-14, 28-36 and 105-123

   Problem Set #4 Assigned

    

6. Theory of the Firm, Profit Maximization, Cost Minimization and Duality

   MWG, pp. 127-160

   Problem Set #5 Assigned

    

7. Monopoly and Price Discrimination

   MWG, pp. 383-387 and 488-501

   Problem Set #6 Assigned