Spring 2011
Economics 101
Intermediate Microeconomics
Class time and place: Tues and Thurs 10:30–12:00 in Cohen G17.
Instructor: George J. Mailath, McNeil 432, 898-7908 gmailath@econ.upenn.edu;
office hours: Tues and Fri, 2-3pm, or by appointment.
Teaching assistants:
Garth Baughman: McNeil 425, garthb@sas.upenn.edu, office hrs: TBA.
Lingwen Huang: McNeil 329, lingwen@sas.upenn.edu, office hrs TBA.
Soojin Kim: McNeil 453, soojink@sas.upenn.edu, office hrs TBA.
Text: Walter Nicholson and Christopher Snyder, Microeconomic Theory, 10th Edition,
South-Western.
Prerequisites: Introductory microeconomics and macroeconomics (Econ 1 and 2), Math
104 and either Math 114 or 115. In particular, the course assumes students have
taken multivariate calculus.
Grading and Exams: Grades will be based on
1. 20%:
Midterm exam I, to given in class on Thursday, February 10.
2. 20%:
Midterm exam II, to given in class on Thursday, March 24.
3. 20%:
Problem sets.
4. 40%:
Final exam, to be given Monday, May 9, 12noon-2p.m.
Coverage Microeconomics studies individual decision making and the implications of
this decision making for social phenomena. Economics 101 develops the basic analytical tools used by economists to study economic decisions and market behavior.
These analytical tools are used to examine the behavior of consumers and firms,
competitive markets, imperfectly competitive markets, and market failures. Applications include the economics of insurance, education, health care, pollution,
taxation, safety, and other topics.
Problem Sets: There will be eleven problem sets. The problem sets will be available on
blackboard, and will be due in class on the due date. Answers will typically be
posted to blackboard the day the problem set is due. As a result, late problem sets
will not be accepted. Problem sets will be handed back in that week’s recitation
section.
When computing the average problem set score to calculate the grade, the lowest individual score will be dropped. This allows for one missed problem set, if necessary,
without adverse consequences.
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