Econ 303

Intermediate Microeconomic Theory

Course Description

This course provides a comprehensive exploration of key intermediate-level microeconomic theories, including consumer and firm behavior, market structures (competition, monopoly, oligopoly),  and  pricing  strategies.  The  emphasis  will  be  on  understanding  the  theoretical frameworks and models that underpin these concepts, with a focus on rigorous analysis and logical reasoning. Building on these models and concepts, we will explore topics such as factor markets,  uncertainties  and  market  failures.  Quantitative  methods  will  be  introduced   to understand the trade-offs associated with government interventions, and we will examine how these analyses can inform policymaking. This course aims to equip students with the theoretical and analytical skills needed to evaluate and forecast the behavior of consumers, firms, and markets, enabling students to critically analyze economic challenges and propose solutions.

Learning Objectives

Students who successfully complete this course will be able to:

a) Demonstrate a comprehensive understanding of key microeconomic theories, explaining theoretical economic models, market functions, and the justifications and consequences of economic problems and policies.

b) Apply critical economic thinking skills to analyze economic questions and policies.

c) Develop proficiency in mathematical and graphical tools used in microeconomic analysis.

d) Enhance problem-solving skills through rigorous analytical exercises and applications.

Prerequisite(s)

Econ 203, and Math 118

Required Readings and Supplementary Materials

Goolsbee, Levitt and Syverson: Microeconomics (fourth/third Edition or even ealier editions) You can buy the used version within 50 dollars. Different edition of the textbook works as well but you should know that the problem sets might be different across versions. In addition to the   chapter    assignments   from    the    textbook,   additional    readings,   and    audio/visual supplementary material may be provided  for discussion. Materials will be available on the Brightspace website.

Course Schedule

Assessment

Your  final grade in this course will be based on four homework assignments  (assigned approximately every 4 weeks), 20 in-class quizzes, one midterm, and one final exam. These assessments will include multiple choice questions to test your understanding of key concepts, short-answer questions designed to evaluate your ability to clearly and concisely demonstrate your  understanding  of  the  course  material,  as  well  as  analytical  problems  that  test  your mathematical and analytical skills.

An organized and legible solutions to the assignment must be submitted by 5 pm on the due dates. Late submissions will not be accepted. However, if you encounter a technical issue or an emergency that prevents you from submitting your assignment on time, you must provide the following documentation to be considered for a late submission.

1)  A record of when you began working on the problem set.

2)  Scanned notes or your answers, timestamped before the deadline (e.g., 5:00 PM, March 12, 2025). This could include a timestamp on your Word document or PDF.

3)  Submission confirmation from Brightspace, if applicable.

For more details on grade assessment, please refer to the Course Guidelines on Brightspace.

Grading

1.   Grading Breakdown

Participation should be no more than 15%, unless justified for a higher amount. All must total 100%.

2.   Grading Scale

Course final grades will be determined using the following scale

Cumulative percentage scores will not be rounded. If your cumulative percentage score is 89.9999, that’s an A- and not an A. At the end of the semester, when final cumulative scores and course grades are posted, please do not email me with a request to round up your cumulative percentage score.