Lectures

(schedule is tentative; check frequently for updates)

*Lecture Notes are handouts created from Powerpoints; they do not include important material written on the board

Wednesday, January 23

 

Class 1

Introduction

Economic Experiment

 

Math Review and Problem Set 1

Math Summary by Prof. Skillman

SW, Ch. 1-2

Bob McTeer, "The Dismal Science? Hardly!", Wall Street Journal, June 4, 2003

 

 

Monday, January 28

 

Class 2

Positive vs Normative

Some economic questions and examples

SW, Ch. 3

Priceless, The Economist, July 17, 2003

Lecture Notes 1

 

 

Wednesday, January 30

 

Class 3

Supply and Demand

Elasticities

SW, Ch. 4

Lecture Notes 2

"Psst! Sell Your Kidney?" New York Times, November 12, 2002

"A Lyrical Gift", New York Times, November 16, 2003

"Conspicuous Non-Consumption", The Economist, Jan. 6, 2005
Monday, February 4 Class 4

Supply and Demand

Elasticities

 

 SW, Ch. 4

"The Agonies of Agflation", The Economist, Aug. 25, 2007

 

 
Wednesday, February 6 Class 5

Supply and Demand

Elasticities

Utility Maximization

 SW, Ch4

SW, Ch5

Notes on Constrained Optimization

Lecture Notes
Monday, February 11 Class 6

Budget Constraints

Indifference Curves

Marginal Rate of Substitution

Utility Maximization

Deriving Demand Curves

  

SW, Ch5

Notes on Constrained Optimization

Lecture Notes
Wednesday, February 13

no class

Class 7

Utility Maximization

Normal, Inferior and Giffen Goods

 SW, Ch5

Notes on Constrained Optimization

Lecture Notes
Monday, February 18 Class 8

Utility Maximization

Normal, Inferior and Giffen Goods

Exam review

 SW, Ch6

 

 
Wednesday, February 20

midterm

 Class 9

 

  

 
Monday, February 25 Class 10

Production Experiment

Marginal Product of Labor

Production Functions

Returns to scale

 SW, Ch6

 

Lecture Notes
Wednesday, February 27 Class 11

Costs

Long run vs short run

Isocosts and isoquants

  

SW, Ch. 6

 
Monday, March 3 Class 12

Profit Maximization

Cost minimization

 

  

 

 
Wednesday, March 5 Class 13

Perfect Competition

Monopoly

 SW Ch. 7

 
Monday, March 24 Class 13

Perfect Competition,

Monopoly

 SW 7

 

 
Wednesday, March 26 Class 14

Price Discrimination

 SW7

SW 12

 

Lecture Notes

Lecture Notes
Monday, March 31 Class 15

Cartels

Game Theory

 SW12

Lecture Notes
Wednesday, April 2 Class 16

Game Theory

Duopoly

 SW12, 13

SW 14 (Nash Eqb only)

Lecture Notes
Monday, April 7 Class 17

Exam Review

Duopoly

Game Theory

Externalities Experiment

 SW12, 14 (NE only)

Lecture Notes

Notes on Game Theory 1 2
Wednesday, April 9 Class 18

Exam 2

  
Monday, April 14 Class 19

Introduction to Macro

GDP

Candy Price Index Experiment

 Lecture Notes

SW 21,22
Wednesday, April 16 Class 20

Macro Indicators

Growth Theory

 

 SW 21, 22, 27

Lecture Notes
Monday, April 21 Class 21

 

Growth Theory

 

  

SW 27

Measure for Measure, The Economist, Oct. 14, 2004

The Reserve Army, The Economist, Feb. 12, 2004

Costs of Living, The Economist,

 Jun. 3, 2004

 

 
Wednesday, April 23 Class 22

Full Employment (Neoclassical) Model

Quantity Theory

Money Market

 

  

SW 27

Composition of GDP

GDP Time Series

Coming into Flower, The Economist, Oct. 14, 2004

Lecture notes (full employment)

 
Wednesday,

Monday, April 28

 Class 23

Neoclassical vs Keynesian

Money and Financial Markets

 

 

Lecture notes (money market)

"Why Wages Do Not Fall in Recessions", The Economist, Feb. 24, 2000

Fun Facts about Money, Federal Reserve Bank of San Francisco

Monetary Policy Tools, Board of Governors

SW 9 pp. 183-192 and Appendix B (PDV)

SW 24

SW 25

 
Wednesday, April 30

 

 Class 24

Goods Market

Introduction to IS-LM

 

  

Ch. 29, pp. 625-43

Lecture Notes

"Weapons of Mass Distraction", The Economist, Sept. 26, 2002

"A Stimulating Debate", The Economist, Oct. 25, 2001

"Cycles and Commitment", The Economist, Oct. 14, 2004

Lecture Notes