AS.440. 601 section 80 Syllabus
Microeconomic Theory
Course Information:
Microeconomic Theory
AS.440. 601 80 ( 3.0 Credits )
Spring 2024 [AE Spring 2024]
Description
Corequisite: AS.440.304, Math Methods for EconomistsThis course offers a systematic presentation of consumer theory, theory of the ¦rm, and market equilibrium. Topics covered include constrained optimization, preferences and utility, exchange, production, pricing, market structures, and welfare economics.
Department: AAP Applied Economics
College: Advanced Academic Programs - AS
Course Structure
What to Expect in this Course:
This course offers a systematic presentation of consumer theory, theory of the ¦rm, and market equilibrium. Topics covered include constrained optimization, preferences and utility, exchange, production, pricing, market structures, and welfare economics.
Course Overview:
Thevideosofeachweekwilbeavailableat12ameverywednesday .mthiscourse ,wecoumt12amonwednesdayto
11:59pmthenextTuesdaytobeafullweek.
week1(1/22-1/26)
. lntroduction
consumerTheory :preferenceandchoice
week2(1/29-2/2
consumerTheory :utilityMaximization
week3(2/5-2/9)
consumerTheory:walrasianDemandandltsproperties
Assignment1Dueat11:59pmonFebruary6th
week4(2/12-2/16)
consumerTheory:ExpenditureMinimization
week5(2/19-2/23)
Midterm1availablefrom12amonFebruary21stto11:59pmonFebruary27th
Assignmet2Dueat11:59amonFebruary20th
week6(2/26-3/1
week7(3/4-3/8)
producerTheory :productionpossibilitysetsandTechnology
week8(3/11-3/15)
producerTheory :proftMaximization
• Assignment3Dueat11:59pmonMarch12th
week9(3/25-3/29)
producerTheory:costMinimization
week10(4/1-4/5
Midterm2availablefrom12amonApril3rdto11:59pmonAprilgth
Assignmet4Dueat 11:59pmonApri2nd
week11(4/8-4/12
partialEquilibrium
week12(4/15-4/19)
Genera lEquilibrium
week13(4/22-4/26)
consumerTheory :uncertainty
Assignment5at11:59pmonApri l23rd
week14(4/29-5/3
Readingweek-selfstudy ,Noclass
week14(5/6-5/10)
Finalavailablefrom12amonMay6thto11:59pmonMay10th
signatureAssignmentDueonMay10th
Directions for Students:
GradeEvaluation
Class Participation: 5%
Assignments: 15%
Signature Assignment: 5%
Midterm 1: 20%
Midterm 2: 20%
Final exam: 35%
Learning Objectives
Program Learning Outcomes:
PLO1. Analyze Advanced Economic Theory.
Course Learning Outcomes (CLOs):
CLO 1: Apply principles of constrained and unconstrained optimization to solve consumer and producer problems.
CLO 2: Combine supply and demand equations to solve for market equilibria and analyze welfare.
CLO 3: Evaluate how modifying standard assumptions to allow for market power and externalitiesalters the solutions.
CLO 4: Connect concepts learned in class to common real life scenarios and world events.
Required Text and Other Materials
Textbooks:
Textbook&Materials(Recommendedbutnotrequired)
(FM) Advanced Microeconomic Theory: An Intuitive Approach with Examples, Felix Munoz-Garcia, MIT Press, 2017. (MWG) Microeconomic Theory: Andreu Mas-Colell, Michael Whinston, and Jerry Green, Oxford University Press, 1995.
Textbook Search:
You can search for your class textbooks via the AAP Online Bookstore here.
Minimum Technology Requirements:
computer
The minimum operating systems for Canvas are:
· Mac – OSX 10.8 or higher
· PC – Windows 7 or higher
Also, your computer should be equipped with a Microphone and a camera
Note:youmayuseamobiledeviceforyouraccess,butitsrecommendedyouhavea laptopordesktoppreparedin
casethemobiledevicehasissueswithanyofoursoftware
Browser
For the best experience with our Canvas Integrations (e.g., Panopto and VoiceThread), the recommended Browsers are:
· Chrome 117 and 118
· Firefox 117 and 118
You should always use the most current version of your preferred browser. Your browser will notify you if there is a new version available. You will also need Java, Cookies, and JavaScript, but the majority of the time, this will be managed by your browser automatically. To verify these are enabled, you can check this Canvas page.
Additionally, you will need to ensure that Third Party Cookies are enabled for our integrations to work. You can do this by following these instructions.
Internet Connectivity
You will be expected to log on to Canvas frequently (daily), so a reliable internet connection is essential. We recommend that you have access to a stable internet connection with speeds of 
.
Software
Expectations for additional software or plugins will be communicated within the details of each course:
Adobe Reader – other PDF viewers are not supported.
Microsoft O¨ce 365 - other software such as Google Drive may cause issues when converting between ¦le types and isn’t integrated into Canvas.
Zoom – Instructors may designate real-time virtual o¨ce hours via Zoom. For more information on Zoom, please see the Zoom Quick- Start Guide.
Support
For questions regarding Canvas or issues you are having, feel free to review the Canvas Student Resources or reach out to AAP technical support through any of the following methods:
Phone: 844-417-0874
Evaluation and Grading
Grading Breakdown:
|
Course Requirements |
Assignment Value |
|
Class Participation |
5% |
|
Assignments |
15% |
|
Signature Assignment |
5% |
|
Midterm 1 |
20% |
|
Midterm 2 20% |
|
|
|
Course Requirements |
Assignment Value |
|
|
|
Final |
35% |
|
Grading Scale:
94% to 100%
90% to 93.999%
87% to 89.999%
83% to 86.999%
80% to 82.999%
70% to 79.999%
0% to 69.999%
There is no rounding of grades.
Assignment Description:
Class Participation (5%)
This is an online course. To encourage you to get more involved, I will post some discussions on the discussion forum. Your replies willbe counted for your participation. The total points available is 5%.
Assignments (15%)
We have assignments due every two weeks. There are 5 assignments in this course. Each is worth 3%.
Assignments are graded based on effort rather than accuracy. As long as you have shown enough effort in answering the questions, you will get 3%.
Assignments are due at 11:59 pm on Tuesdays. Please upload your assignments on Canvas following instructions. Email submission is not accepted.
Please follow the academic policies of JHU (at the end of the syllabus). If you are working with classmates to ¦nish the assignments, please list their names to state that you are ¦nished in group. If you are referring to other papers, materials online, please make sure to cite. Misconduct will be reported.
Signature Assignment (5%)
This is a common assignment across all sections of AS.440.601 and is part of a faculty wide assessment protocol. I will post this after the second midterm.
The signature assignment is due on May 10th.
Midterm 1 (20%)
Midterm 1 is available from 12 am on February 21st to 11:59 pm on February 27th. You have 2 hours to ¦nish it.
When you are ready to take it, please download your exam from Canvas. The 2-hour countdown will start at the time of download.Please upload your ¦nished exam before the countdown is ¦nished. Late submission is not accepted.
The exam is open-book. You can refer to the course materials during the exam. However, you cannot communicate with your classmates, teachers, or any other online mentors. Misconduct will be treated as cheating and be reported.
Midterm 2 (20%)
· Midterm 2 is available from 12 am on April 3rd to 11:59 pm on April 9th. You have 2 hours to ¦nish it.
· Midterm 2 is not cumulative. It covers the contents after Midterm 1.
· When you are ready to take it, please download your exam from Canvas. The 2-hour countdown will start at the time of download.Please upload your ¦nished exam before the countdown is ¦nished. Late submission is not accepted.
· The exam is open-book. You can refer to the course materials during the exam. However, you cannot communicate with your classmates, teachers, or any other online mentors. Misconduct will be treated as cheating and be reported.
Fia l(35%)
· Final is available from 12 am on May 6th to 11:59 pm on May 10th. You have 2 and a half hours to ¦nish it.
· Final is cumulative. It covers all contents in this course.
· When you are ready to take it, please download your exam from Canvas. The 150-minute countdown will start at the time of download.Please upload your ¦nished exam before the countdown is ¦nished. Late submission is not accepted.
· The exam is open-book. You can refer to the course materials during the exam. However, you cannot communicate with your classmates, teachers, or any other online mentors. Misconduct will be treated as cheating and be reported.
Assignment Submission:
For exams, you can use your notes to answer the questions, but you are not allowed to communicate with other
students or other professors. A violation of this policy leads to a 0 on your exams. If you have any questions, you can contact me or see me at my weekly Zoom o¨ce hours.
Assignment Feedback:
Answer key will be provided for all assignments one or two days after it is due. Your grades will be posted in about 7 days after the submission of your assignment. You are encouraged to work with your classmates, join my o¨ce hours, discuss in the discussion forum, or email me directly.