ECON 2001 Intermediate Microeconomics 2008/9
Term 1 Course and Practical Lecturer: Ian Preston, Email: i.preston@ucl.ac.uk
Office Hour: Mon 11.15-12.15, Room 2.07 Drayton House
Term 2 Course and Practical Lecturer: Balazs Szentes, Email: b.szentes@ucl.ac.uk
Office Hour: tba, Room 1.05 Drayton House
Class Teachers: Andres Otero, Email: a.otero@ucl.ac.uk
Office Hour: Fri 5-6, Room G.01 Drayton House
Joao Montalvao Machado, Email: j.montalvao-machado@ucl.ac.uk
Office Hour: Tu 11.15-12.15, Room G.01 Drayton House
Abhishek Chakravarty Email: a.chakravarty@ucl.ac.uk
Office Hour: Tu 5-6, Room G.01 Drayton House
Aims: To provide students with a thorough understanding of core concepts and methods of
microeconomics, as a foundation for subsequent study of microeconomic topics within the degree
programme, and as one of the key elements in the professional training of an economist
Objectives: At the end of the course, students should (a) understand the main elements of microeconomic
theory, at a level appropriate for an economics graduate (b) understand microeconomic models
and problems expressed in standard mathematical terms, and be able to solve and interpret
problems based on such models at a level of difficulty appropriate for an economics graduate (c)
be able to use microeconomic concepts and methods to analyse and interpret real-world
microeconomic phenomena and to assess issues of microeconomic policy
Outline syllabus:
Term 1: Budget constraints; Preferences and utility; Consumer choice, revealed preference, Slutsky
equation; Indirect utility function and expenditure function; consumer surplus and price indices;
Consumer choice with endowments; Intertemporal choice; Choice under uncertainty; Market
demand; Exchange equilibrium
Term 2: Technology and production functions; Profit maximization and factor demands; Cost functions,
conditional factor demands, cost curves; Competitive markets, short and long run behavior;
Monopoly; Price discrimination; Oligopoly models; Game theory; Externalities, Public goods, and
Information economics.
Lectures are at Mon 9-11 in the Darwin Lecture Theatre
Practical Lectures are at Tues 1-2 in the Edward Lewis Lecture Theatre
Tutorials for Term 1 are in weeks commencing 13/10, 27/10, 17/11, 24/11, 1/12 and 8/12
Practical lectures for Term 1 are in weeks commencing 27/10, 10/11, 17/11, 24/11 and 1/12
Required coursework: Four problem sets for Term 1 and four problem sets for Term 2
Examination format: Three hours; FOUR questions from Part A (briefer questions), TWO from Part B
(longer problem questions). Answers to Part B to include ONE from Part BI (covering material from Term
1) and ONE from Part BII (covering material from Term 2).
Course web page (Term 1): http://www.ucl.ac.uk/~uctp100/2001.htm