Course title

Microeconomic Analysis I

Responsible person
DAVID Michael WOLF
to enter grades
Numbering Code

Day・Period, etc. Tues2(対面)

開講区分

単位数

2nd semester

2.0

Timetable Slot
Code3J368

Lesson topic
Microeconomic Analysis I is an introductory microeconomic theory course within the KIMAP program. The purpose ofthis course is to develop students' microeconomic modeling skills. We begin by studying the classical model ofchoice where consumer decisions are modeled under a constrained optimization framework. Extensions and applications
are then considered, including decision-making under uncertainty, revealed preference, and general equilibrium
models of exchange. Students will also learn different measures of welfare, including compensating and equivalentvariation.
Lesson target
Students will learn microeconomic theory using mostly calculus and some set theory. Students should expect todevelop their analytical and critical-thinking skills, while also learning one of the most fundamental models in
microeconomics (utility-maximization). Students should be able to understand basic extensions and apply this model
to explain real-world phenomenon upon completion of the course.

Syllabus and planTopics:
Weeks 1 - 2: Preferences and Utility
Weeks 3 - 4: Utility Maximization, Constrained Optimization, and Corner Solutions
Weeks 5 - 6: Duality and Slutsky's Equation
Weeks 7 - 8: Demand Relationships among Goods and Compensating/Equivalent Variation
Weeks 9 - 10: Compensating and Equivalent Variation (continued), Roy's Identity, and Midterm Achievement Check
Weeks 11 - 12: Revealed Preference, Expected Utility, and Insurance
Weeks 13 - 14. General Equilibrium Models of Exchange and the Fundamental Theorems of Welfare Economics
Weeks 15 - 16: Wrap-up, Summary, and Final Exam
The schedule is subject to change as the semester progresses. This class will be conducted in principle face-toface. I will notify you via Google Classroom and mention in class if for some reason the class will need to be held
online instead of in-person.
In addition, due to university regulations the final exam will be conducted in person and will be scheduled during
the 15th or 16th week of the course. During the non-exam week (i.e., either the 15th or 16th week), a final classwill be held online.
Evaluation method
Quizzes (20%)
Midterm achievement check (30%)
Final exam (50%)

Evaluation baseline
Students will be assessed on their ability to solve conventional and non-conventional utility-maximization
problems, general equilibrium models of exchange and utility-maximization problems under uncertainty.
The midterm achievement check and final exam will be closed book.
The grading scale used for this course is:
90 - 100: S
80 - 89: A
70 - 79: B
60 - 69: C<60: Fail

Notice (include info. on related class)All students are expected to have knowledge of differential calculus and optimization techniques prior to taking
this course. Students who lack these skills may find the course cumbersome.
Exchange students (special auditing students) are allowed to register for this course.

Review and preparation
Students are expected to read the corresponding chapters from the course textbook before coming to class. I will
also post additional review material, including extra practice problems, on the Google Classroom webpage throughout
the semester. Please make sure to do these extra problem sets prior to the midterm achievement check and final
exam.
I would suggest reviewing differential calculus, constrained optimization, and comparative statics before the firstday of class.
Office hour・Contact information
Office hours: by appointment only
Office location: Frontier Hall for Social Sciences Room 812
Email: wolf@econ.kobe-u.ac.jp

Message for student
Please work through all the examples presented in class and feel free to ask questions at any time if you are everconfused.
You will find this course cumbersome if you do not (1) read the corresponding textbooks chapters before coming toclass and (2) work through the practice problems posted on the class webpage.
Improvemenets in Teaching

Text

Microeconomic Theory: Basic Principles and Extensions 12th Edition / Walter Nicholson and Christopher Snyder :Cengage Learning ,2017 ,ISBN:9781305505797
Reference Material

Mathematics for Economists / Carl P. Simon, and Lawrence Blume : W. W. Norton & Company ,1992 ,ISBN:9780393957334

Classroom Language
EnglishEnglishKeywords
Microeconomics, utility maximization, general equilibrium models, exchange students (special auditing students)