AMI1
                  Advanced Microeconomics I: Part 1
                        Fall 2017
       Instructors: Dr. VilenLipatov,room4.208,phone069/798-34793,email:Lipatov@econ.uni-
       frankfurt.de; Hayk Kamalyan, email: hayk.kamalyan@hof.uni-frankfurt.de
       Time and Location: 14:00 - 16:00, Wednesdays; 12:00 - 14:00, Fridays; HZ10.
       O¢ ce Hours: write me an email
       Textbook: David Kreps: Microeconomic Foundations I. Choice and competitive markets.
       Princeton University press, 2012.
       Other references: A. Mas-Colell, M.D. Whinston and J.R. Green (1995), Microeconomic
       Theory, Oxford University Press. [Part One]; H. Varian (1984), Microeconomic Analysis,
       Norton, 2nd edition; A. Rubinstein (2007), Lecture Notes in Microeconomic Theory, Prince-
       ton University Press (available at http://arielrubinstein.tau.ac.il/Rubinstein2007.pdf); G.
       Jehle and P. Reny (2001), Advanced Microeconomic Theory, Addison-Wesley.
        Thecourseisintendedtomakeyoufamiliarwithbasicassumptionsofneoclassical micro-
       economic theory. We will examine individual choices, considering the problems of consumers
       and producers, analyzing the properties of individual and aggregate demand and production
       functions. If time permits, we will also consider choice under uncertainty.
       Grading: The grading will be based on the written midterm exam (60 min) and the home-
       work assignments. There will be 5 problem sets. Cooperation on the assignments is encour-
       aged, but they should be written up individually.
       Exam: The midterm exam will be on December 5th, 10.00-12.00, in H IV in Bockenheim.
                         Outline
        1. Production (1 week)
        2. Abstract Choice Theory (1 week)
        3. Consumer Theory (3 weeks)
        4. Aggregate Demand (1 week)
        5. Choice Under Uncertainty (1 week)
                      Further Guidelines
        The homework represents 20% of your grade for my part of the course. Please submit
       your homework to me before the exercise class. In case you are out of town you can also send
       thembyemailin.pdfformat,butpleaseusethisoptionsparsely. Ifyoutypesetyourproblem
       set, you can also send it in .pdf, but I willl not accept identical .pdfs from all members of
       the working group. Cooperation is encouraged and will NOT be punished. We believe that
       cooperation will bene…t both those who are on the giving and on the receiving end. If you
       use the notation of the lectures, you do not need to explain it. However, if you prefer to use
       your own notation you should introduce it at the beginning of each set of answers. Please
       be consistent in your notation.
        Class time will be divided between lecture and exercise. The lectures will follow the slides
       posted on the class webpage (largely compatible with the book) and are intended to help you
       understand the material from the book. If time permits, we will also have exercise classes
       for discussing the assignments that you have completed and submitted. Hayk or I will try
       to do the grading as soon as possible, but we cannot promise to be ready with it by the next
       class.
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