FINAN 7811 - Microeconomics 1

The first course in a two-course sequence on microeconomic theory, oriented towards Ph.D. students in the business school. Topics include: the theory of choice (preferences, utility functions, choice sets); classical demand theory, with coverage of utility maximization, expenditure minimization, demand the indirect utility function, the expenditure function, integrability, comparative statics, revealed preference, and aggregate demand; choice under uncertainty; classical producer theory, with coverage of profit maximization, cost minimization, duality, and aggregation; general equilibrium theory, with coverage of existence, the two welfare theorems, Edgeworth, time, and uncertainty; dynamic choice; social choice theory; and noncompetitive settings, with coverage of public goods and duopoly.