ECO 701 Fall 97

Wayne State University
Fall 1997

Department of Economics

Economics 701
Professor Kevin Cotter

Microeconomic Theory II

Office: 2109 Faculty Administration Building; phone 577-3233.

Office hours: Mondays and Wednesdays 1:30-3:00, and whenever you can find me

Prerequisite: ECO 700

Theme: In ECO 700 you studied the behavior of individual consumers and firms. The main theme of this course will be the settings in which these economic agents interact. The two principal settings we will study are general equilibrium theory, which has a large number of small players, and game theory, which has a small number of large players. This course will provide a foundation for field courses in industrial organization, international trade, public finance, labor, urban, health, and monetary economics.
Problem solving skills will be emphasized. Like all skills, they take practice and repetition to develop. Therefore you are urged to work through (not just read) the examples in the texts, with pencil and paper, as you read them.

Textbooks:
Brian Binger and Elizabeth Hoffman, Microeconomics with Calculus (Scott Foresman). This is the book you used in ECO 700.
David Kreps, A Course in Microeconomic Theory (Princeton).

Problem sets: Problem sets will be given every Thursday, with written solutions handed out the following week. The exams will be based on the problem sets, so you are urged to work through them and understand the solutions. You will not turn in your answers.

Midterms: Two midterms, worth 100 points each, will be given on October 13 and November 24. Both exams will consist of problems similar to the problem sets. The second midterm will cover material since the first midterm. Please discuss any foreseeable conflicts with me as soon as possible. Makeup exams will be given solely at my discretion.

Final: The final will be given on Tuesday, December 16, 1:20-3:50. It is worth 150 points and will cover the entire course. The format will be the same as the midterms. Failure to attend the final exam without prior arrangement will result in either an incomplete or a zero for the final exam, at my discretion.

Grading: Based on the total of the midterm and final exam scores.

Adds/drops: Adds will be permitted until the regular deadline of September 15. Drops will be permitted until December 1. No drops will be allowed after December 1 except for extreme circumstances, such as serious illness or withdrawal from the University, and will be at my discretion.

Cheating: I prefer to believe that cheating will not take place in this class. Any students involved in cheating on an exam will receive an automatic zero (0) for that exam. The incident will also be reported to the proper University officials for further action. This policy covers both those who provide improper assistance on an exam as well as those who receive such assistance.

Wayne State University	Fall 1997	Department of Economics
Economics 701		Professor Kevin Cotter

Office:	2109 Faculty Administration Building; phone 577-3233.
Office hours:	Mondays and Wednesdays 1:30-3:00, and whenever you can find me
Prerequisite:	ECO 700
Theme:	In ECO 700 you studied the behavior of individual consumers and firms. The main theme of this course will be the settings in which these economic agents interact. The two principal settings we will study are general equilibrium theory, which has a large number of small players, and game theory, which has a small number of large players. This course will provide a foundation for field courses in industrial organization, international trade, public finance, labor, urban, health, and monetary economics. Problem solving skills will be emphasized. Like all skills, they take practice and repetition to develop. Therefore you are urged to work through (not just read) the examples in the texts, with pencil and paper, as you read them.
Textbooks:	Brian Binger and Elizabeth Hoffman, Microeconomics with Calculus (Scott Foresman). This is the book you used in ECO 700. David Kreps, A Course in Microeconomic Theory (Princeton).
Problem sets:	Problem sets will be given every Thursday, with written solutions handed out the following week. The exams will be based on the problem sets, so you are urged to work through them and understand the solutions. You will not turn in your answers.
Midterms:	Two midterms, worth 100 points each, will be given on October 13 and November 24. Both exams will consist of problems similar to the problem sets. The second midterm will cover material since the first midterm. Please discuss any foreseeable conflicts with me as soon as possible. Makeup exams will be given solely at my discretion.
Final:	The final will be given on Tuesday, December 16, 1:20-3:50. It is worth 150 points and will cover the entire course. The format will be the same as the midterms. Failure to attend the final exam without prior arrangement will result in either an incomplete or a zero for the final exam, at my discretion.
Grading:	Based on the total of the midterm and final exam scores.
Adds/drops:	Adds will be permitted until the regular deadline of September 15. Drops will be permitted until December 1. No drops will be allowed after December 1 except for extreme circumstances, such as serious illness or withdrawal from the University, and will be at my discretion.
Cheating:	I prefer to believe that cheating will not take place in this class. Any students involved in cheating on an exam will receive an automatic zero (0) for that exam. The incident will also be reported to the proper University officials for further action. This policy covers both those who provide improper assistance on an exam as well as those who receive such assistance.