SHIMIZU, Kazumi

Microeconomics I(Eng)
Thur.1
Course Outline
The aim of this course is to enablestudents to master the basic concepts and tools essential for
microeconomics.Our main focus will be set on the consumer behavior, producer behavior
andformation of prices under competitive market, and its implications to economicwelfare. In the
course, calculus is used to some extent.
Objectives
Elementary set theory and profit maximization. Lagrange multiplier method and utility
maximization, cost minimization. Linear algebra and the second order conditions for
optimization problems.
Course Schedule
1:
Orientation
Orientation of this class

2:
Consumer Behavior(1)
Preference and utility

3:
Consumer Behavior(2)
Utility maximization in thetwo-goods case
4:
Consumer Behavior(3)
Utility maximization in the n-goods case
5:
Consumer Behavior(4)
Consumer surplus
6:
Producer Behavior (1)
Cost function

7:
Producer Behavior (2)
Production function

8:
Producer Behavior (3)
Short-run and long-run
9:
Producer Behavior (4)
Producer surplus

10:
Partial Equilibrium Competitive Model
Surplus analysis
11:
Competitive market and Economic Efficiency (1)
2 players and 2 goods model

12:
Competitive market and Economic Efficiency (2)
Extension of the model

13:
Market Failure (1)
Imperfect competition
14:
Market Failure (2)
Public goods
15:
Final Exam
Review & Evaluation.5 or 6 Problems in 90 minutes. Not easy.
Reference
Microeconomic Theory: Basic Principles and Extensions, Walter Nicholson
Intermediate Microeconomics: A Modern Approach, Hal. A. Varian
Exam:
80 The final exam
Class Participation:
20 Class attendance
Office hour: Tuesday from 16:00~17:00 at my office (building 8 -506)
(Appointment: skazumi1961@gmail.com, 0352869818)