Microeconomic Theory (Spring 2017)

You can see this document at http://www.kimoon.co.kr/gmi/gmi-171/gmi-171-s.html.

  • How to find the site for this course:
    Homepage of Kimoon Cheong (http://www.kimoon.co.kr) => LECTURE HALL => Spring 2017 => 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
    Reading Math Expressions
  2. The Nature and Scope of Economics Jack Hirshleifer, et al, Price Theory and Applications, 7th ed., Cambridge Univ. Press, 2005, Ch 1 (Sherzod)
    Economic Models Walter Nicholson and Christopher Snyder, Microeconomic Theory, 10th ed., Thomson South-Western, 2008, Ch 1 (Asma)
  3. Math for Microeconomics Nicholson Ch 2-A (Zegeye)
    Math for Microeconomics Nicholson Ch 2-B (Sun)
  4. Ch 02 Supply and Demand
    (2.1-2.4: Sherzod, 2.5-2.8: Asma)
  5. Ch 03 Consumer Theory
    (3.1-3.3: Zegeye, 3.4-3.5: Sun)
  6. Ch 04 Demand
    (4.1-4.3: Sherzod, 4.4: Asma)
    Cook, A "One Line" Proof of the Slutsky Equation, 1972
  7. Ch 06 Firms and Production
    (6.1-6.3: Zegeye, 6.4-6.6: Sun)
  8. Ch 07 Costs
    (7.1-7.3: Sherzod, 7.4-7.5: Asma)
  9. Ch 08 Competitive Firms and Markets
    (8.1-8.3: Zegeye, 8.4: Sun)
  10. Ch 10 General Equilibrium
    (10.1-10.3: Sherzod,10.4-10.5: Asma)
  11. Ch 11 Monopoly
    (11.1-11.3: Zegeye, 11.4-11.6: Sun)
  12. Ch 14 Oligopoly
    (14.1-14.3: Sherzod, 14.4-14.5: Asma)
  13. Ch 16 Uncertainty
    (16.1-16.3: Zegeye, 16.4-16.5: Sun)
  14. Ch 18 Information
    (18.1-18.3: , 18.4-18.5: )
  15. Final Exam

Reading Materials