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14.04 Intermediate Microeconomic Theory

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Prereq: Calculus II (GIR) and 14.01
Units: 4-0-8
Lecture: TR1-2.30 (E51-361) Recitation: F2 (E51-372) +final

Analysis of consumer and producer decisions including analysis of competitive and monopolistic markets. Price-based partial and general equilibrium analysis. Introduction to game theory as a foundation for the strategic analysis of economic situations. Imperfect competition, dynamic games among firms. Failures of general equilibrium theory and their resolutions: externalities, public goods, incomplete information settings, signaling, screening, insurance, alternative market mechanisms, auctions, design of markets.
A. Wolitzky
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