牛津大学：《微观经济学现代观点》教学资源（英文版）micprec o

INTRODUCTION TO MICROECONOMICS CHRIS WALLACE Michaelmas Term 2003 1. COURSE OBJECTIVE This course is intended for those taking Prelims in Philosophy, Politics and Economics, Mods in Modern History and Economics, Prelims in Economics and Management and Part Is in Engineering, Economics and Management or Materials, Economics and Management. The course is directed at students with and without a-Level economics. The course will make use of elementary mathematics- most of the material will be presented graphically. Some basi algebra will be required The relevant part of the rubric for Introductory Economics in the Preliminary Examinations is Elementary economics: including demand theory, production theory, perfect competition, monopoly, monopolistic competition, oligopoly, factor markets general equilibrium and welfare, the theory of international trade 2. TEACHING There will be sixteen one-hour lectures during Michaelmas Term on Mondays and 11.00am in the Examination Schools. All the lectures will be given by Chris Wallace(Trinity College). Classes and /or tutorials will be organised on a college basis. Students should also attend the complementary mathematics and statistics lectures provided by the University. 3. THE EXAM The examination at the end of the first year is called"Introductory Economics". It includes questions from both the Micro and Macroeconomics courses. E&M: any 4 questions from a selection of essays must be answered in 3 hours. PPE and MHE: 4 questions must be answered including one compulsory maths question and 3 others, at least two of which must be essays 4. CoNTAct I can be reached at Trinity College. My email is christopher wallace@economics.oxacuk Further copies of this handout and other resources can be found at my website http://malroy.econ.ox.ac.uk/ccw/

INTRODUCTION TO MICROECONOMICS CHRIS WALLACE Michaelmas Term 2003 1. Course Objective This course is intended for those taking Prelims in Philosophy, Politics and Economics, Mods in Modern History and Economics, Prelims in Economics and Management and Part Is in Engineering, Economics and Management or Materials, Economics and Management. The course is directed at students with and without A-Level Economics. The course will make use of elementary mathematics — most of the material will be presented graphically. Some basic algebra will be required. The relevant part of the rubric for Introductory Economics in the Preliminary Examinations is: Elementary economics: including demand theory, production theory, perfect competition, monopoly, monopolistic competition, oligopoly, factor markets, general equilibrium and welfare, the theory of international trade. 2. Teaching There will be sixteen one-hour lectures during Michaelmas Term on Mondays and Tuesdays at 11.00am in the Examination Schools. All the lectures will be given by Chris Wallace (Trinity College). Classes and/or tutorials will be organised on a college basis. Students should also attend the complementary mathematics and statistics lectures provided by the University. 3. The Exam The examination at the end of the first year is called “Introductory Economics”. It includes questions from both the Micro and Macroeconomics courses. E&M: any 4 questions from a selection of essays must be answered in 3 hours. PPE and MHE: 4 questions must be answered including one compulsory maths question and 3 others, at least two of which must be essays. 4. Contact I can be reached at Trinity College. My email is christopher.wallace@economics.ox.ac.uk. Further copies of this handout and other resources can be found at my website: http://malroy.econ.ox.ac.uk/ccw/. 1

MICRO 5. READING LIST Course Texts. Students should use(and buy if possible) one of the following two texts: Varian, H. R(2002), Intermediate Microeconomics: A Modern Approach 6th Edition, Norton Katz, M. L and Rosen, H S(1998), Microeconomics 3rd Edition, McGraw-Hill. Both are excellent. In the Course Outline below, chapters from Varian(2002) are referred to by V-numbers and chapters from Katz and Rosen(1998) by K-numbers For International Trade, the text(chapters are referred to by KO-numbers)is Krugman, P and Obstfeld, M.(2003), International Economics 6th Edition, Addison Wesley Background Reading. For those with no economics background, two popular texts are Begg, D Fischer, S and Dornbusch, R(2002), Economics 7th Edition, McGraw-Hill Lipsey, R. G. and Chrystal, K. A(1999), Principles of Economics 9th Edition, OUP These books are only suitable as an introduction- both Varian(2002)and Katz and Rosen (1998)meet the appropriate standard. Nevertheless, chapters from Begg et. al.(2002)are referred to in the Course Outline by B-numbers, and Lipsey and Chrystal (1999) by L-numbers, for introductory reading(if required) There are some very good"popular"introductions to economics. Three such are: Dixit, A. K. and Nalebuff, B. L.(1993), Thinking Strategically, Norton Krugman, P(1999), The Accidental Theorist, Penguin. Landsburg, S E(1995), The Armchair Economist, Free Press The first of these is useful for an introduction to games, the second for an introduction to "current"economic issues(including trade) and the third to microeconomics in general. All are, believe it or not, entertaining reading 6. COURSE OUTLINE There are sixteen lectures. a guide follows, with contents and suggested reading Consumption. Lectures 1 to 6 are devoted to consumer theory (1)What is Microeconomics Economics- positive and normative, the nature of modelling in microeconomics, markets. Vl, Kl, B1-B3, L1-L3 (2)Preferences. Representation, utility and indifference curves, well-behaved preferences, marginal rates of substitution. v3-v4.K2. B5. L6-L7 (3) Budgets. Prices, endowments and budget lines, changing the budget line. Choice, consumer demand and the MRS condition. v2, v5-v6, K2, B5, L6-L7. (4)Comparative Statics. The price effect decomposition -substitution, income and endowment effects. Normal and inferior goods. v8-v9, K3-K4, B5, L6-L7

MICRO 2 5. Reading List Course Texts. Students should use (and buy if possible) one of the following two texts: • Varian, H. R. (2002), Intermediate Microeconomics: A Modern Approach 6th Edition, Norton. • Katz, M. L. and Rosen, H. S. (1998), Microeconomics 3rd Edition, McGraw-Hill. Both are excellent. In the Course Outline below, chapters from Varian (2002) are referred to by V -numbers and chapters from Katz and Rosen (1998) by K-numbers. For International Trade, the text (chapters are referred to by KO-numbers) is: • Krugman, P. and Obstfeld, M. (2003), International Economics 6th Edition, Addison Wesley. Background Reading. For those with no economics background, two popular texts are: • Begg, D., Fischer, S. and Dornbusch, R. (2002), Economics 7th Edition, McGraw-Hill. • Lipsey, R. G. and Chrystal, K. A. (1999), Principles of Economics 9th Edition, OUP. These books are only suitable as an introduction — both Varian (2002) and Katz and Rosen (1998) meet the appropriate standard. Nevertheless, chapters from Begg et. al. (2002) are referred to in the Course Outline by B-numbers, and Lipsey and Chrystal (1999) by L-numbers, for introductory reading (if required). There are some very good “popular” introductions to economics. Three such are: • Dixit, A. K. and Nalebuff, B. L. (1993), Thinking Strategically, Norton. • Krugman, P. (1999), The Accidental Theorist, Penguin. • Landsburg, S. E. (1995), The Armchair Economist, Free Press. The first of these is useful for an introduction to games, the second for an introduction to “current” economic issues (including trade) and the third to microeconomics in general. All are, believe it or not, entertaining reading. 6. Course Outline There are sixteen lectures. A guide follows, with contents and suggested reading. Consumption. Lectures 1 to 6 are devoted to consumer theory. (1) What is Microeconomics? Economics — positive and normative, the nature of modelling in microeconomics, markets. V 1, K1, B1 − B3, L1 − L3. (2) Preferences. Representation, utility and indifference curves, well-behaved preferences, marginal rates of substitution. V 3 − V 4, K2, B5, L6 − L7. (3) Budgets. Prices, endowments and budget lines, changing the budget line. Choice, consumer demand and the MRS condition. V 2, V 5 − V 6, K2, B5, L6 − L7. (4) Comparative Statics. The price effect decomposition — substitution, income and endowment effects. Normal and inferior goods. V 8 − V 9, K3 − K4, B5, L6 − L7

MICRO (5)Applications. Slutsky vs Hicks decomposition. Labour supply and intertemporal choice. Other applications. V8-v10, K4-K5, B5, L6-L7, L13 (6)Demand and Supply. Price elasticity of demand and supply. Taxes and consumer surplus Producer surplus. V14-V16, Kll, B4, L4-L5 Production. Lectures 7 to ll are devoted to the theory of the firm (7) Firms. Technology, marginal product and returns to scale. Profit maximisation and cost minimisation Cost curves. V18-V2l, K7-K9, B6- B7, L8 (8)Perfect Competition. Price taking firms in the short and long run. Industry supply in the short and long run. v22-v23.K10. B8 L9 (9)Monopoly. Monopoly behaviour, dead-weight loss and price-discrimination. Monopsony and factor markets. V24-V26, K13-K14, B8, B10- B12, L10, L14-L17. (10)Games. Monopolistic competition. Games and players. Best responses and reaction curves Nash equilibrium. V25, V28-v29, K14, K16, B9, Lll (11)Oligopoly. Competition in quantities( Cournot)and prices(Bertrand). Price and quantity leadership games. V27, K15, B9, Lll. Market. Lectures 12 to 15 are devoted to markets and equilibrium (12) General Equilibrium. Pareto efficiency, competitive general equilibrium. MRS and MRT conditions. Edgeworth boxes. V30-V31, K12, B15, L18 (13)Welfare. The welfare theorems. Social welfare and the aggregation of preferences. Fairness and impossibilities. V30-V32, K12, B15, 18 (14 )Market Failure. Externalities and public goods. Tragedy of the commons. Free riding and oublic good provision. V33-V35, K18, B16- B18, L18-L19 (15) What Nert? An introduction to uncertainty, asymmetric information and games-where microeconomics goes next. V12, V17, V36, K6, K17, B13, L12. International Trade. Lecture 16 is devoted to international trade (16)Trade. Comparative advantage and Ricardo. The Heckscher-Ohlin model and the distributive effects of trade. KO2-KO5.KO8. B33 L34

MICRO 3 (5) Applications. Slutsky vs Hicks decomposition. Labour supply and intertemporal choice. Other applications. V 8 − V 10, K4 − K5, B5, L6 − L7, L13. (6) Demand and Supply. Price elasticity of demand and supply. Taxes and consumer surplus. Producer surplus. V 14 − V 16, K11, B4, L4 − L5. Production. Lectures 7 to 11 are devoted to the theory of the firm. (7) Firms. Technology, marginal product and returns to scale. Profit maximisation and cost minimisation. Cost curves. V 18 − V 21, K7 − K9, B6 − B7, L8. (8) Perfect Competition. Price taking firms in the short and long run. Industry supply in the short and long run. V 22 − V 23, K10, B8, L9. (9) Monopoly. Monopoly behaviour, dead-weight loss and price-discrimination. Monopsony and factor markets. V 24 − V 26, K13 − K14, B8, B10 − B12, L10, L14 − L17. (10) Games. Monopolistic competition. Games and players. Best responses and reaction curves — Nash equilibrium. V 25, V 28 − V 29, K14, K16, B9, L11. (11) Oligopoly. Competition in quantities (Cournot) and prices (Bertrand). Price and quantity leadership games. V 27, K15, B9, L11. Market. Lectures 12 to 15 are devoted to markets and equilibrium. (12) General Equilibrium. Pareto efficiency, competitive general equilibrium. MRS and MRT conditions. Edgeworth boxes. V 30 − V 31, K12, B15, L18. (13) Welfare. The welfare theorems. Social welfare and the aggregation of preferences. Fairness and impossibilities. V 30 − V 32, K12, B15, L18. (14) Market Failure. Externalities and public goods. Tragedy of the commons. Free riding and public good provision. V 33 − V 35, K18, B16 − B18, L18 − L19. (15) What Next? An introduction to uncertainty, asymmetric information and games — where microeconomics goes next. V 12, V 17, V 36, K6, K17, B13, L12. International Trade. Lecture 16 is devoted to international trade. (16) Trade. Comparative advantage and Ricardo. The Heckscher-Ohlin model and the distributive effects of trade. KO2 − KO5, KO8, B33, L34