Location: 55-111, Instruction Center 111
Times: MWF 12:00-1:10
Instructor: Rod Duncan
Office: Habersham 217, Ivan Allen Building
Office Hours: Monday 2-5pm or by appointment
E-mail:
Phone: roderick.duncan@econ.gatech.edu
404-385-1363
(preferred mode of communication)
Course Prerequisites: Students are expected to have done at least one year of calculus as well as a year of economics principles classes.
Course Objectives : To develop the tools economists use to model the behavior of decision-makers, such as consumers, firms and governments. A large emphasis will be placed on analysis of real-world problems using mathematical tools.
Text : Walter Nicholson, Intermediate Microeconomics (8 th
Edition) will be the primary text for the course. Students are expected to have read the material in the book before each class. There will be some additional readings (of a more technical nature) available as handouts or on the class WebCT webpage.
Recommended Text: Alpha Chiang, Fundamental Methods of Mathematical Economics
(3 rd Edition) is available on reserve at the Library. Students who wish to brush up on some mathematical concepts for the class are well advised to work through some chapters from Chiang’s excellent text. Of particular relevance for the class are chapters 1-3, 6-12.
Attendance : Attendance is required. Students will be responsible for all material presented in class or on the required readings.
Problem Sets: There will be problem sets due approximately once a week. These problem sets will be quite long and involved and take the place of quizzes in this shortened quarter. The purpose of the problem sets is to have the students work through the concepts and tools set out in class. Students are allowed (encouraged even) to work on the problem sets in groups, but answers must be written up individually.
Mid-Term Exam : One mid-term exam will be conducted during the class. The midterm will be closed book with no notes or computer available.
Final Exam : There will be a final exam during the examination period after the end of scheduled lectures. This exam will cover all material presented in the course. It will be closed book with no notes or computer available.

Grading : The weighting of the problem sets and exams will be:
Problem Sets
Mid-Term Exam
30%
20%
Final Exam 50%
Course Schedule : (Readings from Nicholson)
Week 1- Introduction to microeconomics and basic mathematics- Chapter 1
Week 2- Optimization in economics- Handout, Chapter 12 in Chiang
Week 3- Utility- Chapter 2
Week 4- Demand and elasticity- Chapters 3 and 4
Week 5- Production and costs- Chapters 5 and 6
Week 6- Profit maximization- Chapter 7
Week 7- Perfect competition- Chapters 8 and 9
Week 8- Monopoly and imperfect competition- Chapters 10 and 11
Week 9- Strategic behavior- Chapter 12
Week 10- Input markets- Chapter 14
Week 11- Externalities and public goods- Chapter 17
This schedule is subject to change as the course progresses.