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ECON 811

Economics 811      Advanced Microeconomic Theory I

Instructor: Ruqu Wang
Dunning Hall, Room 304
 
Teaching Assistant:  Yiran Gong, e-mail: gongy@econ.queensu.ca
                                         Office Hours: Wednesday, 2:30-4:00pm, Dunning Hall, Room 333
                     
 
Link to ECON 811 Announcements (updated December 3, 2021) 
 
Course Description:
In this course, we study the fundamental theory in Microeconomics. The first half of this course focuses on the concepts and techniques in individual decision making. The second half is devoted to game theory and its applications in economic theory.
 
Our focus is on the theoretical aspects of each topic. Therefore, rigorous mathematics will be used extensively. The lectures follow Microeconomic Theory by Mas-Colell, Whinston, and Green, as well as some recent papers in microeconomic theory. Not all materials in the selected chapters will be covered in the class, and only those materials discussed in the class will be covered by the exams.
 
The purpose of this course is to provide students with the basic microeconomic theory which is widely used in other economics courses. Homework will be assigned regularly. Working independently on the homework is strongly recommended, as this is the only effective way to prepare you for the exams. On the other hand, study groups discussing course materials (excluding the homework assignments) are encouraged.
 
This course is for Ph.D students.
 
Grading (tentative):
class participation -- 10%
homework -- 20%
midterm exam -- 30%
final exam -- 40%
 
Required Textbook:
Microeconomic Theory, by Andreu Mas-Colell, Michael D. Whinston, and Jerry R. Green, Oxford University Press, 1995.
 
 

Teaching Plan:

Part I. Individual Decision Making

Chapter 1. Preference and Choice
Chapter 2. Consumer Choice
Chapter 3. Classical Demand Theory
Chapter 5. Production
Chapter 6. Choice under Uncertainty
 

Part II. Game Theory

Chapter 7. Basic Elements of Noncooperative Games
Chapter 8. Simultaneous-Move Games
Chapter 9. Dynamic Games
 

Part III. Market Equilibrium and Market Failure

Chapter 12. Market Power
Chapter 13. Adverse Selection, Signaling, and Screening (if time allows)

 

 
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ECON 811 Announcements

Announcements for 811, Fall 2021-22

1. Everyone who is taking or considering taking this course please send me an e-mail immediately, so that you can receive important announcements regarding this course. My e-mail address is: wangr@queensu.ca

2. Please send your assignments to your TA by e-mail: gongy@econ.queensu.ca    Please put ECON 811 Assignment #1 (or so on) as your e-mail subject title.

3. Assignment #1: 1.B.4; 1.C.2; 1.D.3. Due Monday, September 20, 2021 at 11:59pm.

4. The TA's office hour has been changed to Wednesday, 2:30-4:00pm. Please take note.

5. Assignment #2: 2.D.2; 2.E.4; 2.E.5. Due Monday, September 27, 2021 at 11:59pm.

6. Assignment #3: 3.B.3; 3.C.6; 3.D.6(a)(b). Due Monday, October 4, 2021 at 11:59pm.

7. The midterm exam will be held on Thursday, October 28, 2021. It will be an in-class, closed book, closed notebook exam.

8. Assignment #4: 3.E.5; 3.G.8; 3.G.15. Due Monday, October 11, 2021 at 11:59pm.

9. Past Midterm Exams:

          2005, 2006, 2007 (exclude Q4), 2008, 2009 (exclude Q5), 2018

    Our midterm exam will cover everything up to (and including) Section 6.B.

10. Tutorial: Tuesday, Oct. 26, 1:00-3:00pm, MC A416

11. Midterm Exam: Thursday, Oct. 28, 10:00-11:30am, Dunning Hall Conference Room (DUN 213), 2nd Floor, Dunning Hall.

12. Practice questions for Chapter 5: 2005 Q4, 2007 Q3, 2008 Q4, 2018 Q2 in the past midterm exams.

13. Past Midterm Answers HERE.

14. There will be no ECON 811 class on Thursday due to  Remembrance Day. 

15. Assignment #5: 6.C.1; 6.C.12; 6.C.13. Due Monday, Nov 15, 2021 at 11:59pm.

16. The final exam will take place on Monday, December 13, 2021, from 9:00am to 12:00noon in Dunning Hall Conference Room. It is a closed book, closed notebook exam.

17. Assignment #6: HERE, Due Monday, November 29, 2021 at 11:59pm.

18. Assignment #7: HERE. Due Monday, December 6, 2021 at 11:59pm.

19. The tutorial for the final exam will be on Tuesday, Dec 7, 2021, 1:00-3:30pm, at MC A516. 

20. Past final exams HERE. The following past exam questions are relevant to our final exam.

      Final exams: 2005 (#1, #3, #4, #5), 2006 (#1(a), #2, #4, #5), 2007 (#2, #5), 2008 (#2, #3, #4),

                            2009 (#4, #5), 2018 (#1, #2, #3, #4, #5)

      Midterm exams: 2007 (#4), 2009 (#5)

21. Final Exam Office Hours: 9:00am-11:00am, Sunday, Dec 12, 2021. I will send everyone a link 20 minutes in advance.