Menahem Spiegel
•
Rutgers Business School – Newark and New Brunswick • Department of Finance & Economics•
1 Washington Park, Room 1136 • Newark, NJ 07102
Telephone: (973)353-5899 • Fax: (973)353-1233 • e-mail: mspiegel@rbs.rutgers.edu
Microeconomics
(26:223:552:02)
Fall 2010
Tuesday 8:30-11:20
1 WP Room 528
I. INTRODUCTION
The mission of this course is to develop the student's ability to analyze complex realities
while using advanced economic theory and modeling. This class will focus more on the
analytical/quantitative elements and will form the intellectual underpinning for many of the
courses you will take in your MQF/PhD program. Since insights developed in this course are
important in almost all-subsequent courses, students need to be comfortable with the
tools/models and other decision rules of this course.
II. COURSE POLICIES
A. Textbook: Walter Nicholson and Christopher Snyder: Microeconomic Theory Basic
Principles and Extensions 10th Edition, 2008, Thomson (South-Western) Mason, OH. (A short
reference is: N & S).
B. Grading: The final grades will be based on the midterm exam (30%), the final exam (50%)
and the homework assignments and class participation (20%).
NOTE: No make-up examination will be allowed except for cases of genuine emergency.
C: Homework Assignments: The questions from the textbook for the first two homework
assignments are detailed on the time table below. Other and additional questions will be handed
out in class or be posted on Blackboard at a later date. Homework assignment will be submitted
via the ASSIGNMENT MANAGER on Blackboard. Attached please find the instruction page.
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HW assignments will be accepted until 8:30 a.m on the Tuesday they are due, at that time the
assignment page will close. Question on the assignment will be graded on scale zero/one/two.
Solutions to assignments questions not discussed in class will be provided by the TA, Mr. Gang
Dong in his weekly recitation sessions. Study groups and work groups are highly recommended.
Therefore, assignments can be submitted in groups of n students, n≤4. In case of a group
submission, YOU MUST KEEP THE SAME GROUP and have ONE PERSON SUBMITT ONE
PAPER WITH THE NAMES OF ALL GROUP MEMBERS AT THE TOP. It is in your best
interest to be sure that you are able to work out the homework problems on your own.
Experience shows that to get the maximum insight and intuition from the course and group work,
the student must be able to do, in writing, problems on their own.
III. HOW TO DO WELL IN THIS COURSE
1st. Be Prepared; MICOECONOMIC ANALYSIS is designed to thoroughly expose you to an
economic "way of thinking" about managerial problems. Most students will find this--at least
at the beginning--to be sometime difficult, especially those students with little economics
business backgrounds. As such it is important to review the slides and the assigned reading
material before each class and also to work the problems after class.
2nd. Calculus; This is a CALCULUS based course. Chapter #2 of N&S can serve as good
refresher. The topics covered in this chapter are often in almost every chapter of the text. It is
recommended that you read chapter #2 of the text to refresh your knowledge ASAP.
3rd. Ask Questions; Given the nature of the course, you will have questions! Ask them in class,
if possible (thereby permitting your classmates to also benefit from your thinking--they
probably have the same questions or during the recitation sessions or during office hours).
The first step in gaining understanding is clearly framing and articulating a question.
4th. Build A Strong Foundation; Because every many concept and lecture in
MICROECONOMICS ANALYSIS builds on the insights developed earlier, it is essential
not to fall behind in the readings or problems solving. It is literally true that each lecture's
material becomes the foundation of the next lecture material.
5th. Practice, Practice, and Practice; As MICROECONOMICS ANALYSIS is a problem-
oriented course. My advice is PRACTICE, PRACTICE, and PRACTICE.
Microeconomics Fall 2010 (26:223:552:02)
Timeline
2
#
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Date
Topic
T 09/07/2010
Utility Maximization
T 09/14/2010
Demand Relationship
T 09/21/2010 Uncertainty and Information
T 09/28/2010
Uncertainty & Info. (Cont.)
T 10/05/2010
Game Theory
T 10/12/2010
Mid-Term Exam
T 10/19/2010
Production and Costs
T 10/26/2010
Profits & Competition
T 11/02/2010
Pricing & Monopoly
T 11/09/2010
Pricing & Oligopoly
T 11/16/2010
Capital & Time
T 11/23/2010
Asymmetric Information
T 11/30/2010 Externalities & Public Goods
T 12/07/2010
FINAL EXAM
Assign
#
1
2
3
4
5
6
7
8
9
10
11
12
Due Date
N&S
1 & 3& 4
5&6
7
7
8
9 & 10
11 & 12
14
15
17
18
19
Questions from N & S
T 09/14/2010 Ch3:3.9,3.10 Ch4: 4.10,4.11
T 09/21/2010
Ch5: Ch6:
T 09/28/2010
T 10/05/2010
T 10/12/2010
T 10/19/2010
T 10/26/2010
T 11/02/2010
T 11/09/2010
T 11/16/2010
T 11/23/2010
T 11/30/2010
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