Consumer and Producer Theory

August 16th Logic and Set

Readings: Supplement on Logic, Lecture 1

August 23rd Convexity and Set Topology

Readings: Supplement on Farkas' lemma, Lecture 2, 3, 4 (Section 1-3)

August 30th Set Topology and Differentiation

Readings: Lecture 4 ( Section 4,5), Lecture 5 (Section 1, 2.1, 2.2)

Additional Reading: No arbitrage theorem and Farkas' lemma (Pablo's notes)

September 6th Differentiation and Optimization Method

Readings: Lecture 5 (2.2 - 2.4), 6 (1, 2.1,2.2)

September 13th Shadow value of money and the maximum theorem

Readings: Lecture 6 (2.3), and the supplement on the maximum theorem

September 20th Proof of the maximum theorem and Consumer's Problem

Readings: the supplement on the maximum theorem, Lecture 7 (1 - 2.3)

September 27th Utility Maximization and Cost Minimization

Readings: the supplement on the maximum theorem, Lecture 7 (2.4, 3), Lecture 8 (1-3)

Optional Reference: MWG section 3.D - 3.F.