Lahore University of Management Sciences

ECON 211 – Intermediate Microeconomics

Spring 2017-18

Instructor Dr. Adeel Tariq

Room No. 148 (Economics Department, Academic Building)
Office Hours 3:30 – 4:30 PM (Tue & Thu)
Email adeel.tariq@lums.edu.pk
Telephone 8462
Secretary/TA
TA Office Hours
Course URL (if any) See course site on LMS

Course Basics
Credit Hours 4
Lecture(s) Nbr of Lec(s) Per Week 2 Duration 110 minutes
Recitation/Lab (per week) Nbr of Lec(s) Per Week Duration
Tutorial (per week) Nbr of Lec(s) Per Week 1 Duration

Course Distribution
Core Yes
Elective
Open for Student Category
Close for Student Category

COURSE DESCRIPTION
The objective of this course is to use analytical and mathematical reasoning to understand and apply basic models of microeconomic theory. The
focus of this course will be on the economic behavior of consumers and firms, and how they interact in the market. Emphasis will be placed on
problem solving and application of microeconomic theory to selected public policy issues. Calculus and graphical analysis will be extensively used.
Problem Sets
A number of problem sets will be assigned regularly throughout the semester. Working through these problem sets will significantly help you
tackle the quizzes and exams. The submissions deadline will be strictly enforced. Each problem set will be solved in the tutorials, so you are
strongly encouraged to attend those, especially since the solutions will NOT be made available online.
Quizzes
There will be 5 quizzes (10% each), with the least scoring quiz for each student to be dropped at the end of the semester. Furthermore, since there
is an n-1 policy, absolutely no petitions or excuses will be accepted for missed quizzes.

COURSE PREREQUISITE(S)

 Principles of Microeconomics
 Calculus I

Grading Breakup and Policy

Quiz(s): 40%
Problem Sets: 10%
Midterm Examination: 25%
Final Examination: 25%
 Lahore University of Management Sciences
COURSE OVERVIEW
Week Topics Readings
Economic Models Ch 1-2 (Nicholson and
1
Mathematics for Microeconomics Snyder)
Choice and Demand Selected from Nicholson and
2-4
Budget, Preferences and Utility, Income and Substitution Effects, Demand Snyder, Varian and Nechyba
Producer Theory Selected from Nicholson and
5-7
Technology, Profit Maximization, Cost Minimization, Cost Curves, Firm Supply, Industry Supply Snyder, Varian and Nechyba
General Equilibrium and Welfare Ch 12-13 (Nicholson and
8-10
Exchange, Production Snyder)
Market Power Ch 14-15 (Nicholson and
11-12
Monopoly, Imperfect Competition Snyder)
Market Failures Ch 18-19 (Nicholson and
13-14
Asymmetric Information, Externalities, Public Goods Snyder)

Textbook(s)/Supplementary Readings
I will be building my lectures from the textbooks listed below. Any readings not in the course pack will be made available on LMS.
Textbooks:
Nicholson, Walter and Snyder, Christopher: Microeconomic Theory: Basic Principles and Extension, 10th ed., Thomson South-Western, 2008.
Nechyba, Thomas J., Microeconomics: An Intuitive Approach With Calculus, 2nd ed, South-Western, Cengage Learning, 2011
Varian, Hal R., Intermediate Microeconomics: A Modern Approach, 8th ed., W.W. Norton, 2010.
Optional Readings:
Bergstrom, Theodore C., Hal R. Varian, Workouts in Intermediate Microeconomics, 3rd ed., W.W. Norton, 1993.