Microeconomic Theory (Fall 2015)

You can see this document at http://www.kimoon.co.kr/gmi/gmi-152/gmi-152-s.html.

  • How to find the site for this course:
    Homepage of Kimoon Cheong (http://www.kimoon.co.kr) => LECTURE HALL => Fall 2015 => Microeconomic Theory


  • Microeconomics is the study of how Individuals and firms make themselves as well off as possible in a world of scarcity, and the consequences of those individual decisions for markets and the entire economy. In studying microeconomics, we examine how individual consumers and firms make decisions and how the interaction of many individual decisions affects markets.
  • The course considers problems in consumer and producer theory, general equilibrium, welfare economics, growth and discounting, oligopoly behavior, and game theory. Economic theory and critical thinking will be stressed.
  • To do well in this course, you will need to understand and use basic mathematical tools. Thus an understanding of basic mathematics is necessary for you to do well in the course.




  • Class Participation/Homeworks: 50%
  • Final Exam: 50%

Weekly Schedule

  1. Introduction
  2. The Nature and Scope of Economics Jack Hirshleifer, et al, Price Theory and Applications, 7th ed., Cambridge Univ. Press, 2005, Ch 1 (리저)
    Economic Models Walter Nicholson and Christopher Snyder, Microeconomic Theory, 10th ed., Thomson South-Western, 2008, Ch 1 (판티흥냥)
  3. Math for Microeconomics Nicholson Ch 2-A (이동성)
    Math for Microeconomics Nicholson Ch 2-B (왕옌동)
  4. Ch 02 Supply and Demand
    (2.1-2.4: 리저, 2.5-2.8: 판티흥냥)
  5. Ch 03 Consumer Theory
    (3.1-3.3: 이동성, 3.4-3.5: 왕옌동)
  6. Ch 04 Demand (4.1-4.3: 리저, 4.4-4.5: 판티흥냥)
    Cook, A "One Line" Proof of the Slutsky Equation, 1972
  7. Ch 06 Firms and Production
    (6.1-6.3: 이동성, 6.4-6.6: 왕옌동)
  8. Ch 07 Costs
    (7.1-7.3: 리저, 7.4-7.5: 판티흥냥)
  9. Ch 08 Competitive Firms and Markets
    (8.1-8.2: 이동성, 8.3-8.4: 왕옌동)
  10. Ch 11 Monopoly
    (11.1-11.4: 리저, 11.5-11.8: 판티흥냥)
  11. Ch 12 Pricing and Advertising
    (12.1-12.4: 이동성, 12.5-12.7: 왕옌동)
  12. Ch 13 Game Theory
    (13.1-13.2: 리저, 13.3-13.4: 판티흥냥)
  13. Ch 17 Uncertainty
    (17.1-17.3: 이동성, 17.4-17.5: 왕옌동)
  14. Allen, The Future of Microecon Theory, J. of Econ. Perspectives, Winter 2000.
    Nature of Behavioral Econ, Wilkinson, An Intro to Behavioral Econ, Ch 1, Palgrave Macmillan, 2008.
  15. Final Exam

Reading Materials