Intro to 100B

Intro to 100B - Econ 100B Introduction Joel Watson, January...

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Econ 100B Introduction Joel Watson, January 3, 2011
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Outline for this introductory session: 1. Quick review of the syllabus 2. Review of consumer theory for competitive markets (100A) A. Demand for a product or service; price/quantity relation. B. Consumer surplus C. Consumption bundles 3. Overview of competitive producer theory (our first topic) A. Production technology, inputs and output. B. Trade offs in the selection of inputs. C. Cost functions. D. Supply of a product or service; price/quantity relation. E. Producer surplus Later in this course: 4. Competitive equilibrium in a market A. Assumptions. B. Description and illustration. C. Efficiency properties. 5. General equilibrium A. Description. B. Efficiency (the invisible hand result). C. Market demonstration
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1. Syllabus Economics 100B: Microeconomics, Part B Winter 2011, Professor Joel Watson This is the second of three courses in the core microeconomics sequence. It builds on the material presented in Economics 100A. The principal themes of the course will be the theory of production and firms, the markets for factors of production, and the competitive equilibrium reached between producers and consumers in “perfectly competitive” markets. The class emphasizes mathematical analysis in developing the theory; real-world applications will also be discuss to demonstrate the usefulness and importance of the theory. Prerequisites Students must have taken the prerequisite courses listed in the UCSD catalog and should be comfortable with calculus. If you have trouble with basic calculus, this course may be inappropriate for you. 1
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Schedule MWF 9:00 – 9:50 p.m. in the Price Center Theater. There are also problem- solving/discussion sessions on Fridays: B01 at 4:00 – 4:50 p.m. in Solis 107 B02 at 5:00 – 5:50 p.m. in Solis 107). Lectures will be podcast at http://podcast.ucsd.edu/. Examinations There will be two midterm examinations and a final examination. The midterm exams will take place on: Friday, January 21, and Friday, February 11, during the normal class time. The final exam will be on Wednesday, March 16, from 8:00 to 11:00 a.m. 2 Quizzes/Problem Sets Problem sets will be assigned. They will not be graded and students do not need to submit them. However, working on the mathematical exercises is a critical part of the learning process, so students are strongly urged to take problem sets seriously. Grading Weights Midterms 40%; final 60%. The curve will be set so that the average grade is roughly B–. 3
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Readings Required Text: Microeconomics: Theory and Applications with Calculus (Perloff), Chapters 6-10, 15. Additional Readings: There are many textbooks you can use to supplement Perloff. Other calculus-based intermediate textbooks include Walter Nicholson’s Microeconomic Theory . One free option is an online introductory textbook written by Preston McAfee, available at: http://www.introecon.com/.
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Intro to 100B - Econ 100B Introduction Joel Watson, January...

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