Calendar

LEC # TOPICS KEY DATES
Producer Part
1 Technology
2 Profit Maximization
3 Profit Function, Deriving Supply and Demand
4 Cost Minimization
5 Cost Function
6 Duality
Exam
Consumer Part
7 Utility Functions
8 Individual Choice
9 Demand, Aggregating Individual Demands
10 Consumer Surplus. Welfare
11 Competitive Markets
12 Monopoly
13 Risk and Uncertainty
Exam
Equilibrium Analysis
14-15 Walrasian Equilibrium: Exchange Economy, with Production.
Strategic Considerations
16 Intro into Game Theory
17-18 Oligopoly. Cournot, Bertrand Equilibria. Quantity, Price Leadership. Market Entry. Collusion.
19-20 Information Economics: Lemon Markets, Adverse Selection, Signaling, Moral Hazard, Principal-Agent Problems
Exam
Special Topics
21-22 Auctions, Optimal Selling Mechanisms. Public goods.