The University of Macau, FSH ECON 2003 Intermediate Microeconomics I, 2020/2021 Semester One Lecturer Guang-Zhen Sun (E: gzsun@um.edu.mo; Ext: 8953; Office hours: Wednesday 11:00 - 12:30, 16:00 – 17:30) Course Description This course studies the behavior of individual participants in the economy, with emphases upon optimal patterns of consumption and production, and equilibrium of product markets. Course outline and lecturing schedule Sect. Topics # of 1.5-hour lectures Introduction 2 1 Consumer theory (Preference, utility, choice, demand & consumer surplus) 9-10 2 Exchange and market equilibrium 6-7 3 Producer theory (Production technology, costs, profit & supply) 4 4 Market equilibrium under monopoly & preliminary game theory (partially optional) 5-6 Textbooks Handouts in class Walter Nicholson and Christopher Snyder (2010), Theory and Application of Intermediate Microeconomics, international edition, 11th edition (or any edition), South-Western, Cengage Learning. On consumer theory, Ch. 2, 3. On Equilibrium and exchange, Ch. 9, 10. On producer theory, Ch. 6-8. On monopoly and game theory, Ch. 5, 11. Hal R. Varian (2014), Intermediate Microeconomics: A Modern Approach. 9th edition (or any edition), W. W. Norton & Company, New York. On consumer theory, Ch. 2-8 (Ch. 7 revealed preference optional), 14, 15. On Equilibrium and exchange, Ch. 16 & 32 (Ch. 32 on exchange economy optional). On producer theory, Ch. 19-24. On monopoly and game theory, Ch. 25, 29. Assessment 3 Assignments (45%); Final-term exam (55%)
