ECON 201-01, Intermediate Microeconomics, Spring 2012

Abstract

Intermediate microeconomics is a standard course that examines models from your principles class in some detail. We will derive the demand curve from individual utility functions, consider similarities in models of consumption and other models of production, and combine these into a comprehensive model of general equilibrium. Other topics of interest include efficiency, information, and externalities. Our tools will be simple algebra and graphs. The internal consistency of these models will impress you: a little economic knowledge goes a long way. Intermediate micro requires a lot of work to learn it well. Your investment of time and effort will be richly rewarded with a thorough understanding of the economic point of view. As in all economics courses, slow and steady wins the race: if you read the text daily, attend each class, and work all the problems in the study guide, you can’t help but learn microeconomics well. Cramming tends to impose harsh penalties in economics, but daily study will help reveal the beauties of this particularly applicable body of thought. You are always welcome to raise questions in class. Feel free to drop in on me during office hours or email me to set up a different time to meet if you want help.