Summer Session
ECON 305: Intermediate Microeconomic Theory
Term: Summer Semester
Professor: Mark Kurt
Total contact hours: 60 hours
We will meet every day from Monday to Friday
Course Description
This course reviews the major concepts of microeconomic theory, building on the ideas
introduced in Econ 101. The concepts discussed in this course serve as the launching pad for
many sub-disciplines of economics, such as labor, health, and industrial organization. While
many of the concepts are illustrated using graphical techniques, several key ideas will be proven
using multivariate calculus.
Prerequisites: any two introductory economics courses and one calculus course.
Learning Objectives:
1) Show fluency in the basic concepts, models and tools of microeconomic theory.
2) Think critically about economic phenomena and economic debates by using multiple kinds of
texts, evidence and conceptual approaches.
3) Apply economic reasoning to understand the causal determinants of economic events,
empirical regularities, and policy proposals.
General Rules
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No food or beverage should be brought into class.
Reading newspapers or other materials during class is not permitted.
Cell phones are to be turned off during class sessions. DO NOT let your phone disrupt the
class.
Texting in any way during class is not allowed.
Each student is required to have an e-mail address where the professor can remain in
communication with throughout the semester.
Withdrawal From Class
If you wish to withdraw from the class, please talk to the professor first. You may have a problem
that can be resolved some other way. Anytime you feel that you are behind in class, or that you
are having serious problems with the assignments, please see the instructor before taking any
other action.
If you want to apply for a late-withdraw, you are required to provide a written document from
the medical institution or your legal guardian. Because medical and family emergencies are the
only two reasons one can apply for a late-withdraw.
Materials
Textbook
Intermediate
Microeconomics:
A
Author
Press
Varian, Hal R.
W.W. Norton & Company
Modern Approach
Note: The text is a reference, not a substitute for lectures! The best use of the text is to read the
relevant material before lecture.
Grading
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Problem Sets
Quizzes
Exam I
Exam II
Final Exam
10%
15%
25%
25%
25%
Scale
A
AB+
B
BC+
93
90
87
83
80
77
–
–
–
–
–
–
100
92
89
86
82
79
C
CD+
D
DF
73
70
67
63
60
0
–
–
–
–
–
–
76
72
69
66
62
59
Quizzes
There will be approximately 5 pop quizzes. The lowest quiz grade will be dropped. Under no
circumstances will make-up quizzes be given. Therefore, class attendance is important.
Problem Sets
There will be 5 problem sets. Under no circumstances will late homework be accepted. If you
anticipate missing class that day, you must hand in the assignment before the start of class.
Exams
There will be no make-ups for the first two exams. If you miss either exam and present me with
an approved excuse in advance, I will redistribute the weights of the other exam and the final.
That is, the other mid-term will count as 35% of your grade and the final will count as 40% of
your grade. You will receive a failing grade on any exam that is missed without an approved
excuse in advance. The final exam will be given only on the date scheduled by the University.
Cheating
Plagiarism or cheating of any kind will not be tolerated and will result in severe penalties. Don’t
copy and paste from the internet. That is not acceptable.
Any form of cheating would lead to a F in your grade, and your name will be reported to the
university administration.
Course Schedule
Topics and things you will do for each week
• The Market & Budget Constraint (Chapter 1 & 2)
• Preferences (Chapter 3)
• Utility (Chapter 4)
• Choice (Chapter 5)
• Demand (Chapter 6)
• Quiz 1
• Problem Set 1
• Revealed Preferences (Chapter 7)
• Slutsky Equation (Chapter 8)
• Uncertainty (Chapter 12)
• Consumer Surplus (Chapter 14)
• Market Demand (Elasticity) (Chapter 15)
• Quiz 2
• Problem Set 2
• Exam 1
• Equilibrium (Chapter 16)
• Exchange (Chapter 31)
• Technology (Chapter 18)
• Profit Maximization (Chapter 19)
• Cost Minimization (Chapter 20)
• Quiz 3
• Problem Set 3
• Cost Curves (Chapter 21)
• Firm Supply (Chapter 22)
• Industry Supply (Chapter 23)
• Monopoly (Chapter 24)
• Quiz 4
• Problem Set 4
• Exam 2
• Monopoly Behavior (Chapter 25)
• Oligopoly (Chapter 27)
• Externalities (Chapter 34)
• Public Goods (Chapter 36)
• Asymmetric Information (Chapter 37)
• Quiz 5
• Problem Set 5
• Final Exam
Please contact the School Office if you have any type of problem that prevents professors
from seeing you have learned the course material. We will do our best to help.