| Week # |
Topic
|
Readings |
| Week
1 |
Introduction;
Principles
of Maximization. and Substitution. Appendix to Ch. 1 in Parkin and Bade contains a good review of basics on constructing graphs. |
Allen:
Ch.
1,
2,
3
Parkin and Bade: Ch. 1 |
| Week
2
|
Demand:
marginal
value,
the law of
demand, demand curve, change in demand vs. change in quantity demanded, elasticity of demand. |
Allen:
Ch.
4,
5 P&B: Ch. 3, 4 |
| Week
3 |
Elasticity
of
demand
continued.
|
Allen:
Ch.
5 P&B Ch. 4 |
| Week
4 |
Exchange without production: equilibrium and efficiency. | Allen:
Ch
6 |
| Week
5 |
Government
intervention in competitive markets: rent controls in the short-run. Classification of costs. Opportunity cost, comparative advantage and production possibilities curve. |
Allen:
Ch.6,
7 P&B Ch 10, Ch. 2 |
| Week
6 |
Midterm 1 on
October 11th, the exam covers chapters 1-6 Supply, MC and opportunity cost. |
|
| Week
7 |
Production with diminishing marginal products, cost curves. | Allen:
Ch
8 P&B: Ch 11 |
| Week
8 |
Perfect
competition: profit maximization in the short-run, firm's supply curve. |
Allen:
Ch
9 P&B: Ch 12 |
| Week 9 | Perfect
competition:
market equilibrium in the short-run and in the long-run. |
Allen:
Ch.
9 P&B: Ch. 12, |
| Week 10 | Applications
of
the
neoclassical
model:
equilibrium,
efficiency,
government
intervention
in competitive markets. |
Allen:
Ch.
10 P&B: Ch. 12, Ch 6 |
| Week
11 |
Midterm 2 on
November 15th, the exam is non-cumulative, chapters 7-9;
applications continued. |
|
| Week
12 |
Price searching: price searching equilibrium, efficiency. | Allen:
Ch.
13 P&B: Ch. 13 |
| Week
13 |
Price
searching:
price
discrimination.
|
Allen:
Ch.
13 P&B: Ch 13 |