Department of Economics
Economics 1902, Section 001
Principles of Microeconomics (Honors)
MWF 10:00 -- 10:50 AM
Textbook: Strategies and Games: Theory and Practice, Prajit K. Dutta, MIT Press, 1999
Please scroll down to the material at the bottom of the syllabus for information about course and university policies, contact information, textbook and grading.
|Date (Week of)||Topic||Text||Hwk; Due on the date shown|
|January 19 (W) and January 21 (F)||
Production Possibilities Frontier
ii) Benefits from Specialization
iii) Benefits from Trade
iv) Supply Curve from the PPF: Opportunity Cost: Individually and Collectively
v) T, P and N's demand for fish: Marginal Benefit: Individually and Collectively
|January 24 (M), 26 (W), and 28 (F)||
2) Supply and Demand: Supply and Demand: Equilibrium, Taxes, Surpluses and Shortages
ii) The gain from trade: Economic Surplus
(a) Price = Social MC = Social MB
(b) Consumer Surplus
(c) Producer Surplus
Schenk on Consumer Surplus
Schenk on Producer Surplus
Production Possibilities, due January 26
|January 31 M, February 2 W, and February 4 F
Monday, January 31, Last Day to Drop
Inefficiencies and Market Failure
Schenk on floors and ceilings
Schenk on elasticity
Schenk on Monopoly
Price ceilings and floors, due February 4
|February 7, February 9 and February 11||
Imperfections in the Goods Offered
|Schenk on Externalities: Pt 1 and Pt 2||
Imperfect Labor market, due February 11
|February 14 and February 16||
Excludability and Rivalry in Consumption
A Public Goods Exercise
The Invisible Hand & Pigou
Fibonacci Pizza due February 14.
An answer key.
Externalities and Efficiency due February 16
An answer key
|February 18, Friday, First mid-term exam||
||Fall 2009 Answer Key Part I and Part II|
|February 21, February 23 and February 25||
b) Iterative Elimination of Dominated Strategies
Bertrand Competition: An Example of Dominance Solvability
|February 28, March 2 and March 4||
c) Best Response and Nash Equilibrium
|Solutions and Equilibria
Hwk due on February 28
|March 7, March 9 and March 11||
|March 14, March16 and March 18||
1) Mixed Strategies
a) An Introduction to Probability Probability Notes
b) Mixed Strategies in Normal Form Games
Mixed Strategy Applications
Solution Strategies due on March 14
Key to Solution Strategies
|March 21, 23, 25||
Extensive Form Games
IEDS and Backward Induction
More Backward Induction
Perfect Information in Extensive Form
a) Sub-games and sub-game perfection
Kidnapped by Robert Louis Stevenson
Browser Wars Again
|A Practice Problem: Kathie Lee and Frank
Publishing: Lex and Thea
Hwk due on March 21
Career Decisions: An Extensive Form Game due on March 23
|Hwk Sub-Game Perfection Due on March 25 and Key. Ooops. We decided this would be due on 0401/2011. It turns out that the Raider and Target hwk already due on that day is identical to the one I had here.|
|March 28, Monday, Second mid-term exam||
|March 29, Last Day to Withdraw
March 30 and April 1
Another Static Information Example
A prior problem set. Don't submit this!
|Raider and Target: due on April 1|
|April 4, April 6 and April 8||b)
Incomplete Information -- Dynamics
The market for lemons
Harry Sells Edith His Car
Amanda Reckonwith Hires Angie O'Plasty
|International Trade due on April 6 and key|
|April 11, 13 and 15||
Revelation and Purification
Loretta Mester on Auctions An Excellent Review Article
Vickrey Auctions and Stamps
|Caveat Emptor: Rob R Baron and Bea Ware due April 13|
|April 18, 20 and 22||Harry and Edith due on April 22|
|April 25, 27 and 29||Bargaining Notes||William Spaniel on Take-it-or-leave-it games.||
An All-Pay Auction due on April 27
|Monday May 2||
This is a cushion to give us the time to either finish up or review.
Play and the Evolution of Fairness by Marc Bekoff
|Friday, May 6, 8 -10 AM||
|Get the 2011 key|
831 Ritter Annex
MWF, 2 PM - 4 PM
Academic Freedom, Rights and Responsibilities: Freedom to teach and freedom to learn are inseparable facets of academic freedom. The University has adopted a policy on Student and Faculty Academic Rights and Responsibilities (Policy # 03.70.02) which can be accessed through the following link: http://policies.temple.edu/getdoc.asp?policy_no=03.70.02.
Disability Statement: This course is open to all students who meet the academic requirements for participation. Any student who has a need for accommodation based on the impact of a disability should contact the instructor privately to discuss the specific situation as soon as possible. Contact Disability Resources and Services at 215-204-1280 in 100 Ritter Annex to coordinate reasonable accommodations for students with documented disabilities.
Policy on Cell Phones: Cell phones, pagers and beepers must be turned off during class except with special permission from your instructor.
Attendance Policy: As you can see from the Class Participation and Course Grading Formulas, attendance is very important to your success in this class. Absence due to illness still means that you are not participating in class If you are sick, you will need to provide a note from the doctor. Students with an emergency (e.g., death in the family, illness, automobile accident) may have an excused absence, but if such absences amount to more than 20% of class hours for the semester, students should consider the possibility of withdrawal from the class.
Plagiarism and Cheating: Temple University believes strongly in academic honesty and integrity. Plagiarism and academic cheating are, therefore, prohibited. Essential to intellectual growth is the development of independent thought and a respect for the thoughts of others. The prohibition against plagiarism and cheating is intended to foster this independence and respect.
Plagiarism is the unacknowledged use of another person's labor, another person's ideas, another person's words, another person's assistance. Normally, all work done for courses -- papers, examinations, homework exercises, laboratory reports, oral presentations -- is expected to be the individual effort of the student presenting the work. Any assistance must be reported to the instructor. If the work has entailed consulting other resources -- journals, books, or other media -- these resources must be cited in a manner appropriate to the course. It is the instructor's responsibility to indicate the appropriate manner of citation. Everything used from other sources -- suggestions for organization of ideas, ideas themselves, or actual language -- must be cited. Failure to cite borrowed material constitutes plagiarism. Undocumented use of materials from the World Wide Web is plagiarism.
Academic cheating is, generally, the thwarting or breaking of the general rules of academic work or the specific rules of the individual courses. It includes falsifying data; submitting, without the instructor's approval, work in one course which was done for another; helping others to plagiarize or cheat from one's own or another's work; or actually doing the work of another person.
Students must assume that all graded assignments, quizzes, and tests are to be completed individually unless otherwise noted in writing in this syllabus. I reserve the right to refer any cases of suspected plagiarism or cheating to the University Disciplinary Committee; I also reserve the right to assign a grade of "F" for the given paper, quiz or test.