CAMELIA  BEJAN

 

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Rice University, Houston, Texas

Economics 501
Microeconomic Theory I
Fall, 2012

 

 


General Information

  • Time and place: TTh 9:25am-10:40am, BB271
  • Contact: E-mail:camelia@rice.edu; Phone: (713) 348-3532; Office: BB 266A
  • Office hours: By appointment

Download class material below

Syllabus

Date

Notes

Readings

Homework/Exams

August 21 Lecture 1: Axiomatic description of consumer preferences MWG 1.B, 2.A-2.C, 3.A-3.C --
August 23 Lecture 2: Utility representations and properties of preferences MWG 2D, 3D --
August 27 Lecture 3: Properties of the demand correspondence MWG --
August 29 Lecture 4:Duality theory: expenditure and indirect utility functions MWG 3E, G Hw 1, due September 6
September 4 Lecture 5: Evaluation of economic change and revealed preference theory MWG 3I, J, 2E,F --
September 6 Lecture 6: Expected utility theory MWG 6A,B --
September 11 Lecture 7: Risk and risk aversion MWG 6C, LRW9.1-9.8 --
September 13 Lecture 8: Measures of greater risk MWG 6D, LRW 10 Hw 2, due September 25
September 18 Lecture 9: Optimal portfolios with one risky security. Comparative statics LRW, Ch. 11-12 --
September 20 Lecture 10: Optimal portfolios with several risky securities LRW Ch. 13 --
September 25 Lecture 11: Production sets, profit maximization and cost minimization MWG 5 B,C --
September 27 Lecture 12: Cost and supplyy functions in the single output case MWG 15 D Hw 3, due October 4
October 2 Lecture 13: Production aggregation and efficiency MWG 5 E,F --
October 4 Lecture 14: Edgeworth boxes. One consumer-one producer economies MWG 15.B,C --
October 9 MIDTERM -- Sample midterm
October 16 Lecture 15: Private Ownership Economies. First Welfare Theorem 16.A-C --
October 18 Lecture 16: Second Welfare Theorem MWG 16.D,E --
October 23 Lecture 17: FOC-s for PO and WE MWG 16.F Hw 4, due October 30
October 25 Lecture 18: Existence of Walrasian equilibrium MWG 17 A-C Appendix B, AD paper --
October 30 Lecture 19: The core of an exchange economy MWG 18 A, B --
November 1 Lecture 20: Walrasian equilibrium and the core Aumann's paper Hw 5, due November 13
November 6 Lecture 21: GE under uncertainty. Arrow-Debreu equilibrium MWG 19 A-C --
November 8 Lecture 22: Radner equilibrium MWG 19 D,E --
November 13 Lecture 23: Complete versus incomplete markets MWG 19.F, LRW 1.1-1.5, 1.7 --
November 15 Lecture 24: State prices and arbitrage LRW Ch. 2-3, 6.1-6.4, 6.6-6.7 --
November 20 Lecture 25: Constrained efficiency LRW 15.1-15.3, 16.1-16.4 Hw 6, due November 29
November 27 Lecture 26: Effectively complete markets LRW 16.4-16.6 --
November 29 Review session -- Sample final exam