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Office hours To address any questions students may have, the TA and I will each hold an office hour every week, aside from lectures and review sessions. The office hours stated above are subject to change. Please check your emails. Problem Sets Problem sets are required as part of the course work. Problem sets will be due at the beginning of your TA session, and no late problem sets will be accepted. Handwritten answers are fine as long as you write neatly. You are encouraged to work together on the problem sets, but every student enrolled in the course must hand in an individual solution. All problem sets should include your Name (as registered with the university) and Student ID. If you work with other students you must also write down the name of your partners on your homework. It is in your self-interest to be neat, as partial credit depends heavily on clarity. Lastly, please staple your problem sets to facilitate the grading process. You are allowed to miss one problem set. There will be no exception to this rule. If you hand in all problem sets, the one with the lowest score will be ignored when computing the totals (i.e., doing all the problem sets works in your favor). Your TA is fully in charge of the problem sets. Any problem set related questions should be directly addressed to him! Assessment Problem sets, midterm, and final exam will count toward your grade as follows Problem Sets Midterm Exam Final Exam 20% 30% 50%
Both exams will be closed book and close note exams. I reserve the right to raise grades upwards at my discretion, in very rare cases, to recognize exceptional participation, positive trends, or extenuating circumstances.
Course Timeline
(subject to change)
Readings are denoted V.X for Varian chapter X and L.X for Lima chapter X. 10/01 Overview. (V.I, Mathematical handout, L.1 but ignore all second order and second differential parts) 10/03 10/08 10/10 10/15 10/17 10/22 10/24 10/29 10/31 11/05 11/07 11/12 11/14 11/19 11/21 11/26 11/28 12/03 12/05 12/10? Budget Constraint: Describing a limited set of choices. (V.2, L.3.3 3.6) Preferences and Utility. (V.3, V.4) Utility. (V.4, L.4) Optimal Choice. (V.5, V.5 Appendix, L.5.1 5.5) Expenditure Minimization. (L.6.1 6.6) Duality. (L.7) Income and Substitution: Comparative Statics. (V.6, V.8, L.8.1 8.3.3) The Slutsky Equation. (V.8, L.8) Applications as time permits. MIDTERM Applications: Labor Market, Intertemporal Choice. (V.9, V.10) Application: Asset Markets. (V.11) Uncertainty. (V.12) Consumer Surplus. (V.14, L.10) Aggregate Market Demand and Elasticity. (V.15) General Equilibrium of an Endowment Economy (V.16, L.29) Thanksgiving General Equilibrium of an Endowment Economy continued (V.16, L.29) Reading Period FINAL