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Jason Abrevaya, Chair 2225 Speedway, Stop C3100, Austin, TX 78712 • Admin: 512-471-3211 & Advising: 512-471-2973

Richard Dusansky

Professor Ph.D., Brown University

Richard Dusansky

Contact

  • Phone: 512-471-3664
  • Office: BRB 2.102E
  • Office Hours: Check Blackboard; Or by appt.
  • Campus Mail Code: C3100

ECO 420K • Microeconomic Theory

33505-33519 • Spring 2015
Meets TTH 1230pm-200pm BUR 208
show description

A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory

33516-33518 • Spring 2015
Meets TTH 200pm-330pm BUR 134
show description

A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory

34725 • Spring 2014
Meets TTH 1100am-1230pm BRB 1.120
show description

A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory-Honors

34727 • Spring 2014
Meets TTH 1100am-1230pm BRB 1.120
show description

A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory

34280-34295 • Spring 2013
Meets TTH 1100am-1230pm WEL 2.246
show description

A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory

34175-34180 • Spring 2012
Meets MW 1100am-1230pm BRB 1.118
show description

A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory

33370-33385 • Fall 2010
Meets TTH 1100am-1230pm UTC 3.110
show description

A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory

33580-33582 • Spring 2010
Meets TTH 1100-1230pm BRB 2.136
show description

A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory

33705-33710 • Fall 2009
Meets TTH 1100-1230pm BRB 2.136
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                   ECONOMICS 420K - MICROECONOMIC THEORY
                                     R. Dusansky
             Office:BRB 2.102E   
            Telephone: 471-3664
             E-mail: Dusansky@eco.utexas.edu
                  OFFICE HOURS: Tuesday And Thursday
              1:00-2 00 And By Appointment
COURSE PREREQUISITES
 Economics 304K, Economics 304L and the calculus sequence.

TEXTBOOK
 Walter Nicholson and Christopher Snyder, Microeconomic Theory: Basic
             Principles and Extensions, 10th edition.
TAKE-HOME QUIZES
 A take-home quiz will be distributed each Friday and will be collected
        at the BEGINNING of class one week later. Each quiz will usually have
        three questions. Completed take-home quizes must be submitted on
        8.5 x 11.0 inch paper. Late submissions will not be accepted.
        (NOTE: if you submit a take-home quiz EARLY, give it directly to the TA).
EXAM DATES and FINAL GRADE
 Your final grade will be based on the average quiz score  (25%)
        and three term exams (25% each).
        THE TERM EXAMS WILL BE GIVEN ON:
  OCTOBER 1 (Thursday),
  NOVEMBER 3 (Tuesday) and
                DECEMBER 4 (Thursday).
 PLUS/MINUS grades will be assigned for the final grade.
MISSED EXAM POLICY
        A missed exam will result in a failing grade, UNLESS acceptable medical
        documentation is provided. If a make-up exam is not offered, each of the
        other two exams will carry a weight of 37.5% instead of 25%. If a make-up
        exam is offered, it may be written or oral.  If you are eligible to take
        a make-up exam, be prepared to be examined very shortly after the missed
        scheduled exam.
WEEKLY RECITATION SESSION
 Your TA is Jorge Barro. Each Friday he will review the weekly quiz and
        present supplementary material for which you are responsible. Attendance
        is MANDATORY. Feel free to contact Mr. Barro during his office hours or
        by special appointment. He is devoted to helping you master the material
        in this course.
  TA email address: jorge.barro@gmail.com
  TA Office location: BRB 4.118
  TA Office Hours:Wednesday & Thursday, 10:00-11:00 and by appointment.
WARNING
 Although class attendance is not used in determining the final grade,
        ATTENDANCE IS REQUIRED. I supplement the text material in many ways.
        You are responsible for the assigned material in the text AND
        for the material presented in class.

                                 REQUIRED READING
 
A.  PERSONAL REVIEW
 Mathematics of Optimization...................Chapter 2

B.  CHOICE AND DEMAND
 Preferences and Utility.......................Chapter 3
 Utility Maximization and Choice...............Chapter 4
 Income and Substitution Effects...............Chapter 5
        Demand Relationships Among Goods..............Chapter 6
        Pareto Efficiency in Consumption..............Chapter 13, pp467 and 476-478
 Intertemporal Optimization....................Class Lecture
C.  PRODUCTION AND SUPPLY
 Production Functions..........................Chapter 9
 Costs.........................................Chapter 10
 Profit Maximization and Input Demand..........Chapter 11

D.  COMPETITIVE MARKETS AND MARKET FAILURE
 Perfect Competition and Partial Equilibrium...Chapter 12
 General Equilibrium and Pareto Optimality.....Chapter 13
        Monopoly and Price Discrimination.............Chapter 14
        Social Choice and Voting......................Class Lecture

E.  SELECTED TOPICS (If Time Permits)
        Strategy and Game Theory......................Chapter 8
        Externalities and Public Goods................Chapter 19

  
   SUBJECT MATTER OF CLASS MEETINGS

August     27 Methodology
September
            1 Preferences, axioms of choice and indifference curves
            3 Utility functions and the budget constraint
     8 Examples of budget constraints with "kinks"
    10 Utility maximation, demand and duality
    15 Income and Substitution effects
    17 Properties of demand functions and the Slutsky Equation
    22 Economic analysis: applications 1
    24 Economic analysis: applications 2
    29 Pareto efficiency in consumption
October
     1 EXAM #1
     6 Intertemporal optimization
     8 Applications and analysis
    13 Production functions and isoquants
     15 Returns to scale and technical progress
    20 Cost minimization
    22 Short-run and long-run cost functions
    27 Output choice and profit maximization
    27 Firm supply and input demand
November
     3 EXAM #2
     5 Perfect Competition and partial equilibrium
    10 Long-run equlibrium and market entry
    12 Pareto efficiency in production
     17 General Equilibrium and the Welfare Theorems
    19 Monopoly and welfare loss
    24 Price discrimination and regulation
December
     1 Social choice, the Impossibility Theorem and voting
     3 EXAM #3

NOTICE: Students with disabilities may request appropriate academic
        accommodations from the Division of Diversity and Community
 Engagement, Services for Students with Disabilities, 471-6259

ECO 420K • Microeconomic Theory

33042 • Spring 2009
Meets TTH 1100-1230pm BRB 2.136
show description

A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

ECO 420K • Microeconomic Theory-Honors

33075 • Spring 2009
Meets TTH 1100-1230pm BRB 2.136
show description

A SURVEY OF NEOCLASSICAL AND CONTEMPORARY THEORIES OF THE PRINCIPAL DETERMINANTS OF PRICES AND OF THE ROLE OF PRICES IN ECONOMIC ORGANIZATION. REQUIRED OF STUDENTS MAJORING IN ECONOMICS. STUDENTS MAY NOT ATTEMPT ECONOMICS 420K MORE THAN TWICE.

PREREQUISITE: ECONOMICS 304K AND 304L WITH A GRADE OF AT LEAST C- IN EACH, AND MATHEMATICS 408C AND 408D, OR MATHEMATICS 408K AND 408L, WITH A GRADE OF AT LEAST C- IN EACH.

The primary objective of the course is to study contemporary theories of the principal determinants of prices and the role of prices in economic organization. The course will emphasize the fundamental concepts of microeconomics and provide concrete examples of their application. The course will cover the demand and supply theories for competitive markets, some instances of market power, basics of the game theory, choice under uncertainty, and equilibrium in an exchange and production economy.

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