The University of North Carolina at Chapel Hill

Department of Economics

Economics 101: Intermediate Microeconomic Theory

2^nd Summer Session 2002

Meeting times and location: MTWRF 9:45-11:15, Gardner Hall 209

Final Exam: Thursday, August 1, 8:00 am

Instructor: Ronald Oertel

(oertel@email.unc.edu)

Office: suffering under construction

Office hours: right after class and by appointment

Notice on registration:

This course is intended for economics majors; in fact, they are required to take this class at some point. Remember that you can’t receive credit for both Economics 100 and 101.

Course description:

This is an intermediate course in microeconomic theory. It’s “intermediate” because this is not the first time you’re hearing about microeconomics, and if you want, it won’t be the last time, either. “Microeconomics” means that we focus on the decisions of individual consumers (‘demanders’), workers, and firms (‘suppliers’).

We will make occasional use of calculus in this course; when we do we will review the relevant tools. We will make extensive use of algebra and of graphical tools.

Required textbook:

The text for this class is Intermediate Microeconomics: A Modern Approach by Hal Varian (1999, 5^th ed, Norton).

The book comes in a package with Workouts in Intermediate Microeconomics by Theodore Bergstrom and Hal Varian. Every day in class we’ll work out one or several of the problems in Workouts, so I suggest bringing it to class. Graded assignments will also include problems from Workouts.

Assessment:

Grades are based on 2 assignments (7.5% each), a midterm (40%) and a cumulative final exam (45%).

An assignment that is 1 day late receives only 90% of its original numerical grade, and only 80% if 2 days late. An assignment that is 3 or more days late will not be accepted.

There will be no make-up midterms. If the midterm is missed for any reason cleared with the instructor, then its weight will be shifted to the final exam.

Finally, according to the Provost, “only Deans and the Student Health Service are authorized to excuse a student from a scheduled final examination for the purpose of allowing the student to take the examination at a later date.”

Assignment 1

Answers to Assignment 1

Here are some short format sample questions without answers for the midterm exam.

And here are the same sample questions with answers.

Midterm: Friday, July 12, 2002. Click here to view the midterm with (brief) answers

Assignment 2

Answers to Assignment 2

RE-REVISED Reading list: much shorter!

Suggested exercises from the Workouts book

Here are some short format sample questions without answers on post-midterm material.