Pomona College
Fall 2013
Microeconomic Theory
Office: Carnegie 204, x73342, smarks@pomona.edu
Economics 102
Stephen V. Marks
Office Hours: M 1:30 – 4:00 or by appointment
This course aims to provide you with an understanding of the basic concepts and analytical techniques of
microeconomics. We will also consider applications of the theory to contemporary issues.
Text: Robert H. Frank, Microeconomics and Behavior, 8th edition, McGraw-Hill/Irwin, 2010.
Course requirements include two midterm examinations, each worth 25 percent of your course grade, and
a final examination worth 30 percent. Homework exercises and class participation count for 20 percent of
your grade (10 analytical exercises are planned, plus two essays of at most two pages each, the topics of
which will be discussed in class). All work must be submitted at its scheduled time, unless prior arrangements are made with the instructor (in dire circumstances only, such as for a serious health problem).
Students are expected to do their own work without outside aid, but mentoring sessions will be held 8:009:00 PM in Carnegie 11 the night before each exercise is due. Our Sakai site will have lecture notes,
exercises and answer sheets, a calculus review handout, chapter 18 of the text, and other course materials.
Course Outline
Dates
Topics
Text Chapters
9/3
Introduction
9/5, 10
Supply and Demand
2 + Appendix
9/12, 17
Consumer Behavior
3 + Appendix
9/19
Individual and Market Demand
4 + Appendix
9/24
Applications of Consumer Theory
5
9/26, 10/1
Information and Uncertainty
6
10/3
Production Theory
10/8
EXAMINATION #1
1-5
10/10
Costs of Production
10 + Appendix
10/15, 17
Profit Maximization and Competition
11
10/24, 29, 31
Monopoly and Price Discrimination
12
11/5, 7
Imperfect Competition
13
11/14
EXAMINATION #2
11/12, 19
Labor Markets
11/21
Capital Goods, Economic Rent
11/26, 12/3
General Equilibrium and Efficiency
12/5, 10
Externalities and Public Goods
12/18
FINAL EXAMINATION, 2:00 Wednesday
1
9 + Appendix
1-13
14
15 + Appendix
18
16, 17
1-18