This course is an introduction to microeconomic theory and concerns the behavior of individual consumers and firms in competitive settings. The specific topics to be covered are preference and choice, optimization theory, consumer theory, producer theory and choice under uncertainty. The course is intended to teach students the foundations of formal economic analysis in these areas. Emphasis is on precise statements and proofs of some basic propositions in economics. The treatment of the topics will be fairly mathematical and presumes knowledge of linear algebra, optimization, multivariate calculus and some real analysis. At the end of the course, students should be able to (i) understand theories and concepts in consumer and producer theory, (ii) develop analytical and problem solving skills regarding the analysis of the topics covered, and (iii) be ready to apply these skills in Microeconomics II, General Equilibrium.
Lecture: 100min/wk and Recitation: 50min/wk