January 15 Course Introduction
PART I: Language and Mathematics Review
January 20 Set and Logic
Readings: Lecture 1 (Section 1 and 2), Supplement on Logic
Additional Readings: [O] A.1, [D] 1.1, 1.2, [JR] A1.2
January 22 Logic (continued) and Linearity:
Readings: Supplement on Logic, Lecture 2 (Section 1.1, Section 2.1)
Additional Readings: [JR] A1.1, [SB] Chapter 6,8,10,11; [O] Chapter F
Mandatory Assignment A (Due on February 12, Optional Submission)
January 27 - February 3 No meeting
February 5 Linearity (continued)
Readings: Lecture 2 (Section 1.1, Section 2.1)
Additional Readings: [SB] Chapter 6,8,10,11; [O] Chapter F
February 10 Linear Independence, Matrix Operations, and Linear Programming
Readings: Supplement on dot product and Linear Programming, Lectures 2
Additional Readings: [SB] Chapter 6,8,10,11, 21; [O] Chapter F, A.4, G, [K] Appendix 3, [JR] A1.4
February 12 Differentiation and Optimization with No Constraints
Readings: Lectures 5 (Section 1), Lecture 6 (Section 1)
Additional Readings: [JR] A2.1, [SB] Chapters 2-5, 14, 16, [JR] A2.2-A2.4, [SB] Chapters 17-19, [K] Appendix 5
Mandatory Assignment B (Due on February 26, Optional Submission)
February 17 Multivariate Differentiation and Optimization with Equality Constraints
Readings: Lectures 5 (Section 2.1-2.3), Lecture 6 (Section 2.1)
Additional Readings: [JR] A2.1, [SB] Chapters 2-5, 14, 16, [JR] A2.2-A2.4, [SB] Chapters 17-19, [K] Appendix 5
February 19 Constraint Qualification and Convexity
Readings: Lecture 2 (Section 2.2), Lectures 5 (Section 2.4), Lecture 6 (Section 2.1)
Additional Readings: [JR] A2.1, [SB] Chapters 2-5, 14, 16, [JR] A2.2-A2.4, [SB] Chapters 17-19, [K] Appendix 5
February 24 Convex Optimization with Inequality Constraints
Readings: Lecture 6 (Section 2.2)
Additional Readings: [JR] A2.2-A2.4, [SB] Chapters 17-19, [K] Appendix 5
PART II: Consumer Theory
February 26 Consumer's Problem
Readings: Lecture 7 (Section 1, 2.1, 2.2)
Additional Readings: [D] Ch 2,4 [B] Ch 6 [JR] 1.1-1.3, 1.5 [K] Ch 3 [OR] 5.1-5.3
Assignment 1 (Due on March 17)
March 3 Envelope Theorem and Utility Maximization
Readings: Lecture 6 (Section 2.3), Lecture 7 (Section 2.3 and 3), Lecture 8 (Section 1, 2)
Additional Readings: [D] Ch 2,4 [B] Ch 6 [JR] 1.1-1.3, 1.5 [K] Ch 3 [OR] 5.1-5.3
March 5 Economic Modelling
Modeling of a decision maker
Are agents rational?
Why do we have assumptions?
Are we modelling the decision process of the agents?
March 10 Cost Minimization and Comparative Statics
Readings: Lecture 8, 9
Additional Readings: [JR] 1.5, 2.1 [K] Ch 10, 11, [OR] 5.6
March 12 Comparative Statics and Welfare
Readings: Lecture 9, 10
Additional Readings: [JR] 4.3, [K] 12.2
PART III: Choice And Revealed Preference
March 17 Preference and Utility Presentation
Readings: Lecture 1, Lecture 12
Additional Readings: [JR] Ch 3, [K] Ch 9, [OR] Ch 6
March 19 Preference and Utility Presentation
Readings: Lecture 12
Additional Readings: [JR] Ch 3, [K] Ch 9, [OR] Ch 6
March 24 Choice and Revealed Preference
Readings: Lecture 13
Additional Readings: [D] 4.4-4.7, [JR] 1.2, [K] Ch 1 - 2, [OR] Ch 1,4
PART IV: Choice Under Uncertainties
March 26 Uncertainty and Expected Utility
Readings: Lecture 14
Additional Readings: [K] Ch 5, [JR] 2.4, [OR] 3.1-3.4, [O] H.1
March 31-April 2 Spring Break
April 7 Uncertainty and Expected Utility
Readings: Lecture 14
Additional Readings: [K] Ch 5, [JR] 2.4, [OR] 3.1-3.4, [O] H.1
Assignment 3 (Due on April 21)
April 9 Expected Utility
Readings: Lecture 14
Additional Readings: [K] Ch 5, [JR] 2.4, [OR] 3.1-3.4, [O] H.1
April 14 Attitude towards Risk
Readings: Lecture 15
Additional Readings: [JR] 2.4, [OR] 3.5
PART V: Topics
April 16 Topics
Sophisticated or Naïve: individuals dilemma (Carlos Manuel Diaz Cantu)
April 21Topics
April 23 Topics
Insurance Choice Under Uncertainty : Protection and Prevention (Gala Renata Hernandez Garcia)
April 28 Topics
Optimal sentence design based on wealth in property crimess (Diana Elizabeth Trujillo Baeza)
April 30 Topics
May 5 Topics
May 7 To be determined
May 12 Topics
Additional Reference:
For consumer and producer theory:
[K] David M. Kreps, Microeconomic Foundations I: Choice and Competitive Markets (Princeton University Press, 2013)
[OB] Osobrne, M. and Rubinstein, A., Models in Microeconomic Theory (Open Book Publishers, 2020)
[JR] Geoffrey A. Jehle and Philip J. Reny, Advanced Microeconomic Theory (3rd edition, Prentice Hall, 2011)
For mathematics:
[O] Efe OK, Real Analysis with Economic Applications (Princeton University Press, 2007)
[SB] Carl Simon and Lawrence Blume, Mathematics for Economists (Norton, 1994)