Advanced Micro Theory (T)

PREREQUISITE: ECON-UA.0011 OR ECON-UA.0011 OR ECON-UB.0001 WITH A MINIMUM GRADE OF C.

NOT OPEN TO STERN STUDENTS.

Designed to introduce students to some of the main model-building techniques that have been developed by microeconomists. Intended for advanced undergraduates who have taken the necessary preparatory courses in economics and mathematics. Three basic topics are covered. The first topic is the static theory of consumer behavior both in a certain world and in an uncertain world. The second topic is the theory of general equilibrium. The third topic is the theory of dynamic optimization. In addition to the coverage of the economics, the advanced mathematical techniques that are needed to understand the material are reviewed.