Managerial Economics 14-774 Fall 2012 mini 1

Section A1 MW 10:00 11:50 AM INI DEC FRIDAY 11:00 TO 12:50 pm INI DEC Text Microeconomics and behavior 8th edition, Robert H. Frank David L. Lamont Tepper 306 - Old part of the building mg00@andrew.cmu.edu 412-268-7578 - office voice - nearly worthless 412-608-4933 mobile if urgent Administrative Coordinator Jean Andrews 268-8843 - not worthless ja23@andrew.cmu.edu Teaching Assistants Section A1
Gautam Dambekodi Navinchand gdambeko@andrew.cmu.edu Alok Ranjan alokr@andrew.cmu.edu Kavya Murali kmurali@andrew.cmu.edu

Grading
Exam 1 Exam 2 Exam 3 Exam 4 TOTAL POSSIBLE 100 100 100 100 400

We will lay a foundation of microeconomic theory and practice so that you will be able to take more advanced economic classes if you wish to do so. We will cover consumer theory and producer theory plus some game theory concepts.

Schedule of Activities
Class # 1 2 Date 8/27 8/29 Topic Reading Assignment due as class begins Points

Introduction preview of topics to come Supply and Demand Frank Ch curves 1,2

8/31

No recitation needed

Homework 1 Chapter 1 Problems 1,2,3,4,7,9,15 Chapter 2 Problems: 1,2,3,5,6,7,9 Leave this Friday open

9/3

Labor day holiday No classes

Labor day holiday No classes

9/5

Consumer Theory Budget Constraints, indifference curves, Utility functions

Frank Ch 3

9/7 Demand Theory 9/10 9/12

Frank Ch 4

Homework 2 Chapter 3 PROBLEMS: 1,3,5,10,13,16,18,19 APPENDIX Problems #1,2,3 Homework 3 Chapter 4 Problems 1,4,6,7,9,13

Review INI DEC EXAM 1

Recitation not need Applications of Demand Theory Choice under uncertainty Consumer Behavior and bounded rationality

Conducted by TAs Chapters 1,2,3,4

Clear this Friday Chapter 5 Chapter 5 Problems Chapter 6 2,4,7,8,17,21 Chapter 6 Problems 4,9,10,11,14, 15 Frank Ch 8

100

9/14 9/17

9/19

9/21

Homework

Homework Review

9/24 6 9/26

Review by TAs Exam 2

Production Frank Ch 9 Frank Ch 10

by TAs Exam 2 Chapters 100 5,6,8

9/28

COSTS

Homework 5 Chapter 9 Problems 3,4,5,8,9,10 Chapter 10 Problems 1,2,7,8,9,10,11 Homework 6 Chapter 11 Problems 2,3,5,6,7,8,13,15,16 Chapter 12 problem 2,3,7,9,11,12,16 TAs may hold additional review on the weekend

10/1

Perfect Competition, Monopoly

Frank Ch 11,12

10/3 10/5 8 10/8

Review
Clear this Friday

Exam 3 (chapters 9,10 only)

Oligopoly and game theory. Externalities Frank Ch 13,16

Exam 3 INI DEC

Homework 7 Ch 13 Problem 6,8,9,10,11,13

10/10 10/12

Review for Exam 4 Exam 4 Chapters

11,12,13,16 NO CLASSES

Review for Exam 4 Exam 4 Reading days, exam days and mid-semester break 100 Points

11

10/15

13

10/17 TO 10/19