SL354, Intermediate Microeconomics Week 1 : March 3 – 7 MondayTuesdayThursdayFriday Exam 1 Exam 2 Exam 3 Exam 4 Exam 5 Problem Set 3 Equilibrium Varian,

Slides:



Advertisements
Similar presentations
Modeling Tradeoffs 24 hrs. (An “Endowment”) x 1 =Time (Leisure) x 2 =Income (Things) — — ? What else do we need in order to build a theory that is useful.
Advertisements

Intermediate Microeconomic Theory
Chapter 9 Buying and Selling. Maximization Program Max U(x 1, x 2 ) Subject to p 1 x 1 +p 2 x 2 = p 1 x 1 0 +p 2 x 2 0 Endowment, price ratio, and U jointly.
SL354 Intermediate Microeconomics Week 1 Week 2 Week 3 Week 4 Week 8 Week 5 Week 6 Week 7 Week 10 Week 9 MondayTuesdayThursdayFriday Exam 1 Exam 2 Exam.
Chapter Nine Buying and Selling. Endowments u The list of resource units with which a consumer starts is his endowment. u A consumer’s endowment will.
SL354, Intermediate Microeconomics
Chapter Nine Buying and Selling. u Trade involves exchange -- when something is bought something else must be sold. u What will be bought? What will be.
Chapter Nine Buying and Selling. u Trade involves exchange, so when something is bought something else must be sold. u What will be bought? What will.
1 Applications of Rational Choice APEC 3001 Summer 2007 Readings: Chapter 5 in Frank.
CHAPTER 4 The Theory of Individual Behavior Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior.
Chapter 4 Consumer and Firm Behavior: The Work- Leisure Decision and Profit Maximization Copyright © 2014 Pearson Education, Inc.
The Theory of Individual Behavior
© 2010 W. W. Norton & Company, Inc. 9 Buying and Selling.
Chapter Nine Buying and Selling. u Trade involves exchange -- when something is bought something else must be sold. u What will be bought? What will be.
Copyright © 2002 Pearson Education, Inc. Slide 6-1 If we look at finance in terms of buying and selling claims, The Bond Is the Good Buyer: Lender who.
Demand Analysis Demand Elasticity Supply Equilibrium.
Econ 208 Marek Kapicka Lecture 3 Basic Intertemporal Model.
Chapter 6 Markets, Prices, Supply, and Demand. Objective: understand short-run economic fluctuations. Micro foundations: the choices made by consumers.
Econ 3010: Intermediate Price Theory (Microeconomics) Professor Dickinson Appalachian State University Lecture Notes outline—Section 1.
Midterm 2 Review. Midterm 2 (L9-L16)  Applications of buying and selling 1.Labor Supply 2.Intertemporal Choice 3.Uncertainty  Markets and Exchange 1.Pareto.
Copyright © 2008 Pearson Addison-Wesley. All rights reserved. Chapter 9 A Real Intertemporal Model with Investment.
1 Endowments. 2 Buying and Selling Trade involves exchange -- when something is bought something else must be sold. What will be bought? What will be.
6 | Consumer Choices • Consumption Choices
RL1 Review. u A decisionmaker chooses its most preferred alternative from the affordable ones. u Budget set u Preferences (Utility) u Choice (Demand)
RL3 Review. Exam u Date: u Room: u u Cumulative u 2 hours (120 min) u Closed book (calculators not needed) u Format: Problems as in PS (no true false.
Review Monopoly Summary A monopoly is a firm that is the sole seller in its market. It faces a downward-sloping demand curve for its product. A.
Econ 3010: Intermediate Price Theory (Microeconomics) Professor Dickinson Appalachian State University Lecture Notes Outline— Section 3.
Demand A Schedule Showing the Consumers are Willing and Able to Purchase At a Specified Set of Prices During A Specified Period of Time Amounts of a Good.
L10 Intertemporal Choice. Abstract Model (apples and oranges) Applications: 1. Labor Supply (Labor-Leisure Choice) 2. Intertemporal Choice (Consumption-Savings.
Chapter 9 BUYING AND SELLING. 9.1 Net and Gross Demands Endowments : (  1,  2 )  how much of the two goods the consumer has before he enters the market.
Intermediate Microeconomic Theory Intertemporal Choice.
L16 Producers: Labor Markets. Labor supply (consumers)
RL3 Review. Exam u Date: 5/12/16, 12:25-2:25 u Room: Bascom 165 (Last Name A-Q) u Education L196 (Last Name R-Z) u Cumulative u 2 hours (120 min) u Closed.
Microeconomics 2 John Hey. Lecture 26: The Labour Market The supply of labour (consumer: leisure time/money trade-off). The demand for labour (theory.
L27 Review. Exam u On 12 th of May, 17:05 19:05 p.m. room: B10, 19 Ingraham Hall u Cumulative (I know it is a lot of work!) u 2 hours (120 min)
L12 Uncertainty. Model with real endowments 1. Labor Supply (Labor-Leisure Choice) 2. Intertemporal Choice (Consumption-Savings Choice) 3. Uncertainty.
L11 Uncertainty.
L10 Intertemporal Choice.
Producers: Labor Markets
L12 Uncertainty.
RL3 Review.
L18 Review.
L08 Buying and Selling.
Application 1: Labor supply
L11 Uncertainty.
Midterm 2 Review.
L09 Review.
Buying and Selling: Applications
Buying and Selling: Applications
Buying and Selling: Uncertainty
RL3 Review.
L08 Buying and Selling.
L12 Uncertainty.
Producers: Labor Markets
L10 Intertemporal Choice.
Application 1: Labor supply
L08 Buying and Selling.
RL3 Review.
Midterm 2 Review.
RL1 Review.
Application 1: Labor supply
Buying and Selling: Applications
Buying and Selling: Uncertainty
Producers: Labor Markets
Producers: Labor Markets
Chapter 9 Buying and Selling.
Application 1: Labor supply
Producers: Labor Markets
Buying and Selling: Uncertainty
L10 Intertemporal Choice.
Presentation transcript:

SL354, Intermediate Microeconomics Week 1 : March 3 – 7 MondayTuesdayThursdayFriday Exam 1 Exam 2 Exam 3 Exam 4 Exam 5 Problem Set 3 Equilibrium Varian, 16 Problem Set 2 Auctions Varian, 17 Profit Maximization Varian, 19 Welfare Varian, 33 Externalities Varian, 34 Information Varian, 35 Introduction Varian, 1 Budget Constraints Varian, 2 Preferences Varian, 3 Choice Varian, 5 Consumer Demand Varian, 6 [7] S. & I. Effects Varian, 8 Buying & Selling Varian, 9 Intertemporal Choice Varian, 10; Thaler, 8 – 9 Market Demand Varian, 15 Loss Aversion, etc. Thaler, 6 – 7 Asset Markets Varian, 11 Risky Assets Varian, 13 Capital Markets I Thaler, 10 – 11 Capital Markets II Thaler, 12 and 14 Utility Varian, 4 Problem Set 1 Thaler, 1 – 3 Uncertainty (Risk) Varian, 12 Problem Set 4 Technology Varian, 18 Exchange Varian, 31 Production Varian, 32 General Equilibrium TBD Auctions Thaler, 5 Asymmetric Information Varian, 37 Problem Set 5 Thaler, 15 Portfolio Theory TBD Week 2 : March 10 – 14 Week 3 : March 17 – 21 Week 4 : March 24 – 28 Week 5 : April 7 – 11 Week 6 : April 14 – 18 Week 7 : April 21 – 25 Week 8 : April 28 – May 2 Week 9 : May 5 – 9 Week 10 : May 12 – 16 Buying & Selling Varian, 9

Buying & Selling Net Supplier of good Net Demander of good Initial Endowment Net Demander of good Net Supplier of good Initial Endowment

Buying and Selling: Consumer Choice Theory with Endowments Decomposition of effects of a price change into substitution, ordinary income and endowment income effects: Price decrease of a good currently being demanded. SEOIE EIE

Buying and Selling: Consumer Choice Theory with Endowments Decomposition of effects of a price change into substitution, ordinary income and endowment income effects: Price increase of a good currently being demanded. SEOIE EIE

Buying and Selling: Consumer Choice Theory with Endowments Decomposition of effects of a price change into substitution, ordinary income and endowment income effects: Price decrease of a good currently being supplied. SEOIE EIE

Buying and Selling: Consumer Choice Theory with Endowments Decomposition of effects of a price change into substitution, ordinary income and endowment income effects: Price increase of a good currently being supplied. SEOIE EIE

Leisure, l Consumption, C Labor Leisure Labor-leisure tradeoffs and labor supply

Labor-leisure tradeoffs and income taxes SEOIE EIE l C Labor Supply?

Borrowing in period 1 Intertemporal Trades

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2025 SlidePlayer.com. Inc. All rights reserved.