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Course

Economics 101: Microeconomic Theory, Winter 2024

Office Hours

15 minutes immediately after each lecture; Tuesdays 11:00 AM - 12:00 AM at my office, Bunche 8242; or by appointment for exceptional cases.

Lectures

Mondays and Wednesdays, 3:30-4:45 PM, Broad Art Center 2160E.

Discussion Sections

See the website for TA contact and office hours information. If exceptional circumstances make it difficult for you to attend your regular section, and you want to attend another one:

❼ You need written approval from both your TA and the TA whose sections you want to attend; email both of them in the same message.

❼ Requests sent before the second week of classes will be ignored.

❼ Be aware that TAs may not approve your request due to university regulations, space limitations, or workload sharing concerns.

Attendance policy

Students are expected to attend lectures and sections. However, we will not track attendance.

Prerequisites

Students must have completed Econ 11.

Readings and Materials

There is no required textbook. Lecture slides, section notes and other supporting material posted on the website will be enough. You are wel-come to use other sources such as Microeconomic Theory: Basic Principles and Extensions by Nicholson and Snyder. But if there is any discrepancy between that other source and lecture, the lecture prevails.

Exams Dates

Midterms: January 31 and February 26, both during regular class time. Final exam: March 21, 8 am - 11 am. This schedule cannot be changed, and alternative exam dates will not be offered.

Grading

Problems sets correspond to 10% of the final grade. As for the other 90%:

❼ For students whose final exam score is below the scores on each of the two midterms, each exam will count 30%.

❼ For all other students, the final exam will count 50% and the higher of the two midterms will count 40% (i.e., the lower midterm score is dropped). This includes students missing one of the midterms.

This grading scheme is designed to ensure that a consistent and fair policy is applied in the unusual case that a student must miss a midterm. There won’t be any replacement exams or assignments except if mandated by law or university policy. Please consult with me as early as possible if you anticipate not being able to take the final exam.

Questions about grading should be directed first to your TA. If you do not agree with the TA’s response, send me an email explaining the grading disagreement. I will then regrade the exam. You have one week after the exam has been returned to ask questions about your exam and score.

Problem Sets

Late problem sets will not be accepted for any reason (you will not be able to submit them online after the due date). Sometimes students are prevented from turning in assignments on time due to family circum-stances, technical problems, and other unexpected issues. To cover such cases, your lowest grade on problem sets will be dropped when calculating the final grade.

Students may collaborate on problem sets. I recommend working on the problem set on your own and then using small student groups to discuss your answers and teach each other. Simply copying answers is considered cheating. You should not share your answers with other students, except in small group discussions as mentioned above.

Exam rules

The format of the exam will be announced on the website. Unless in-structed otherwise, you should use nothing other than pen/pencil/eraser.

Academic Integrity

You will be held to high standards of academic integrity. Examples of cheating include, but are not limited to: consulting unauthorized mate-rials or people during exams; copying answers from another student; and using online means to send answers to problem sets or exams. Cases of cheating will be reported to the Office of the Dean of Students.

For more details see:

http://www.deanofstudents.ucla.edu/Academic-Integrity.

Student Resources

Disabilities: Requests for special arrangements must be processed through CAE (http://www.cae.ucla.edu/) within the first week of class.

Counseling: UCLA offers counseling and psychological services to stu-dents. Please visit https://www.counseling.ucla.edu/.

Discrimination prevention, Title IX, and other resources: https://equity.ucla.edu/campus-resources/.

Thanks

The course structure and materials are based on previous courses taught by Professor Bernardo Silveira and others at UCLA Economics.

Academic goals and tentative schedule

By the end of the course, students should have obtained: i) a working knowledge of some of the most important and commonly used models in microeconomics, ii) the ability to think strategically with game theory, and iii) the ability to apply economic modeling to solve new and unique problems.

❼ Mon, 8-Jan: Introduction and monopoly

❼ Wed, 10-Jan: Monopoly and price discrimination

❼ Mon, 15-Jan: Marthin Luther King, Jr holiday

❼ Wed, 17-Jan: Price discrimination

❼ Mon, 22-Jan: Basic game theory and Nash equilibrium

❼ Wed, 24-Jan: Oligopoly: Cournot and Bertrand competition

❼ Mon, 29-Jan: Discussion and review

❼ Wed, 31-Jan: Midterm 1

❼ Mon, 5-Feb: Game theory: mixed strategies

❼ Wed, 7-Feb: Sequential games and Stackelberg competition

❼ Mon, 12-Feb: Repeated games, cooperation, and collusion

❼ Wed, 14-Feb: More on repeated games, entry games