Microeconomics I

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” It is not from the benevolence of the butcher, or the baker that we expect our dinner, but from their regard to their own interest. “

Adam Smith

Course Description

The aim of the course is to introduce students to the most essential topics in microeconomic theory. Students should acquire a thorough understanding of economic theory relevant to the topics covered. Topics include consumer behaviour and the principles of rational choice, production, technology, profit maximisation, and firm behaviour, and partial and general competitive equilibrium. The course will be followed by Microeconomics 2.

Lectures

Sunday & Tuesday 8:00 – 9:30; Room 4

Office Hours

Tuesday 14 – 15; room 118 or by appointment (email: ffatemi@sharif.edu).

Evaluation

The evaluation of the course is based on quizzes (20%), mid-term exam (37.5%), and final exam (42.5%). Problem sets carry no weight, but quizzes are mainly based on the questions appeared in the problem sets. Each student’s performance in the classes will be awarded by up to 5% bonus mark. However, we will discuss the assessment issue in the first lecture, and these might change. Exam dates are shown on the course outline.

Textbook

The main textbooks for the course is:
Mas-Colell, Andreu, Michael D. Whinston & Jerry R. Green: Microeconomic Theory; Oxford University Press..

Other References

We also use the following textbooks for some topics and the problem sets (some other papers and books might be added to the list later in the term):

Jehle, Geoffrey A. & Philip J. Reny; Advanced Microeconomic Theory; Addison-Wesley.

Kreps, David; A Course in Microeconomic Theory; Harvester Wheatsheaf.

Osborne, Martin; An introduction to Game Theory; Oxford University Press.

Rubinstein, Ariel; Lecture Notes in Microeconomic Theory; Princeton University Press.

Varian, Hal; Microeconomic Analysis; W. W. Norton and Company

Course Outline

Following is a list of the topics we intend to cover in this course alongside the textbook chapters for each topic. There is a possibility that not all the material in some chapters of textbooks will be covered, which will be announced in lectures accordingly. On the other hand, some other text or notes might be used for some of the topics which we intend to cover in greater details.

Session Date Assessment Course Plan
1 Sun 96  06  26 Introduction to Microeconomics
2 Tue 96  06  28 Chapter 1: Preferences and Choices
3 Sun 96  07  02
4 Tue 96  07  04 Chapter 2: Consumer and Choice
Sun 96  07  09
5 Tue 96  07  11
6 Sun 96  07  16 Chapter 3: Classical Demand Theory(Excl. 3.F and 3.H)
7 Tue 96  07  18
8 Sun 96  07  23
9 Tue 96  07  25 Quiz 1
10 Sun 96  07  30
11 Tue 96  08  02
12 Sun 96  08  07
13 Tue 96  08  09
14 Sun 96  08  14 Chapter 4: Aggregate Demand
15 Tue 96  08  16 Quiz 2
16 Sun 96  08  21 Chapter 5: Production
17 Tue 96  08  23
Wed 96  08 24 Mid-Term Exam
Sun 96  08  28
18 Tue 96  08  30
19 Sun 96  09  05
20 Tue 96  09  07
21 Sun 96  09  12 Chapter 10: Competitive Markets
22 Tue 96  09  14 Quiz 3
23 Sun 96  09  19
24 Tue 96  09  21
25 Sun 96  09  26 Chapter 15: General Equilibrium Theory: Some Examples (Excl. 15.D & 15.E)
26 Tue 96  09  28 Quiz 4
27 Sun 96  10  03 Chapter 16: Equilibrium and Its Basic Welfare Properties (Excl. 16.E, 16.F, & 16.G)
28 Tue 96  10  03
Tue 96  10  19 Final Exam (9am)

Lecture Notes

Problem Sets

Past Exams

Exams Results