14.121 Microeconomic Theory I
Fall 2009
Instructor: Parag Pathak
TA: Brandon Charles Lehr
Lecture:
MW1-2.30 (ENDS OCT 23)
(E51-149)
Recitation: F1-2.30
(E51-057)
TA OH: M10.30-12
(E52-201)
Information:
Announcements
14.121 exams graded
The 14.121 exams are graded. The mean and median on the exam were 60 and 61, respectively, and the high was 94.
There are two chances to pick up your graded exam from me in the coming days. First, I will be in my office (E52-391C) tomorrow between 5:00-5:30pm. Second, I will be available on Tuesday between 2:30-3:00pm. I am not available at all on Monday. If neither of these times works for you, then please contact me with a set of times on Wednesday that do work.
Best,
Parag
Announced on 01 November 2009 12:10 a.m. by Parag Pathak
14.121: final week
I have posted an updated version of the lecture note on welfare theorems with the typos removed. I have also posted the lecture notes that we will cover on general equilibrium with time and uncertainty (this is the material we will cover in MWG 19 -- we are ignoring 19.F-19.H)
We have also posted some extra GE problems that we assigned last year, together with the solutions.
Remember: I don't expect you to be able to recall the proof of the second welfare theorem (in the general case) or the proof of existence for the exam (in particular, the only material from MWG 17 that you should know is what I have written in my lecture notes, so don't get bogged down in that chapter unless you want to :-). I will, however, expect that you will be able to work through some simple GE models and concepts for the exam.
I will also be having an extended office hour this Wednesday from 2:30-4:00 if anyone has any last minute questions.
Have a good weekend,
Parag
Announced on 17 October 2009 3:54 p.m. by Parag Pathak
Monopoly Theory notes posted
Dear 14.121,I have scanned the appropriate chapter of Varian's book on Monopoly theory. Our treatment in class today follows this much more closely than MWG. Please read this instead. Some may find his discussion of quality choice more intuitive than the approach based on monotone methods. He also has a nice description of the 2nd degree price discrimination problem that I started to cover and will finish on Monday.
We have just finished the seventh lecture out of a total of 12 lectures. After externalities and public goods, we will move on to cover General Equilibrium. The material I will cover on 10/21 will not be on the final exam on 10/23.
Finally, a reminder that my office hours at Wednesdays 4-5pm, or by appointment. If you find yourself struggling in the class or wish to talk about the graduate program, or about economics more generally, please do not hesitate to visit.
Best,
Parag
Announced on 30 September 2009 3:54 p.m. by Parag Pathak
14.121 website updates
Dear 14.121 students,Some students have asked me about the readings in this course. I do not expect you to have the time to read all of the extra articles I mention in class. For students for whom most of what I am doing is a review, however, the articles and books I mention are classics and reading them will expand your knowledge as an microeconomist.
When a reading is required for this course, I will make that clear. For the readings from the books, please look at the syllabus for the exact sections of the book you are responsible for. (i.e. do not read MWG 4.C)
Two updates:
1. The Athey-Milgrom-Roberts manuscript is required reading, but focus on 2.1, 2.2, and 2.6 (pp 1-8). The rest of the manuscript is not critical for the course, and my lecture notes will emphasize what we need to get out of their book.
2. I have also posted some other parts from Jehle-Reny's coverage of some applied topics in consumer theory. In particular, they have the entire argument for going from the expenditure function back to a utility function (the second part of Hurwicz-Uzawa), and this is worth reading.
Best,
Parag
Announced on 23 September 2009 3:07 p.m. by Parag Pathak
