ECON 401 - Intermediate Microeconomic Theory
Fall 2020, Section 001
Instruction Mode: Section 001 is  Online (see other Sections below)
Subject: Economics (ECON)
Department: LSA Economics
See additional student enrollment and course instructor information to guide you in your decision making.

Details

Credits:
4
Requirements & Distribution:
BS, QR/1
Enforced Prerequisites:
MATH 115, 116, 121, 156, 176, 185, 186, 215, 285, 295, or 296; with a grade of C or better.
Advisory Prerequisites:
ECON 101 and 102.
Other Course Info:
F, W, Sp.
BS:
This course counts toward the 60 credits of math/science required for a Bachelor of Science degree.
Repeatability:
May not be repeated for credit.
Rackham Information:
Rackham credit requires additional work.
Primary Instructor:

Description

Microeconomic theory models the behavior of individuals and firms, and the properties of markets in which they interact. It provides foundations for current economic research, and for evaluating economic policies. We will focus less on idealized markets with perfect competition, without externalities, and without information frictions; we will focus more on markets that fall short of those ideal conditions. The course is organized around two key frameworks: classical demand theory, which addresses how individual preferences and constraints lead to aggregate demand behavior; and game theory, which addresses how strategic economic agents make decisions in environments where their actions are interdependent. Smaller portions of the course focus on theories of monopoly optimization and perfect competition. We cover economic policy issues related to collusion, insurance, pollution, platform monopolies (like Facebook and Google), and consumer finance. By learning to solve optimization problems using calculus, we will gain a better understanding of both economics and calculus. In-class questions will reinforce your learning, and in-class activities will help illustrate the concepts. We don't follow a textbook closely, so lecture slides, practice exams, and other materials will be distributed on the course website.

Course Requirements:

Six or more small exams test conceptual understanding and problem solving. Exams are graded by hand, and partial credit is awarded for a correct approach even if the final answer is wrong. A small math error loses only a small fraction of the points available. Two exams will be held in the evenings, not during regular class time; the final exam will be held during exam week. Other exams will be held during class time. There will be weekly problem sets, short writing assignments, and other activities; these will be graded mostly for participation and sincere effort, but perhaps small parts may be graded for correctness. Course grades are curved, to award about 40% A's and 40% B's.

Intended Audience:

This course is intended for Economics majors, as well as others with an interest in learning how microeconomic theory can be applied to questions that arise in society. The course is intended to be accessible to students with widely varying backgrounds, but have fulfilled the enforced pre-requisites.

Class Format:

Lecture videos will be distributed asynchronously. Scheduled class time will be used for interactive discussions, activities, and enrichment, to which synchronous participation is not required. Asynchronous discussions will be conducted online. While exams may be administered synchronously, asynchronous participation in all other aspects of the course is welcomed.

Schedule

ECON 401 - Intermediate Microeconomic Theory
Schedule Listing
001 (LEC)
 Online
12009
Open
58
 
-
MW 1:00PM - 2:30PM
Note: Students will be auto-enrolled in the lecture section 001 when they elect a discussion section; Students must attend exams (8-10pm on 10/8, 11/5)
002 (DIS)
 Online
12010
Open
2
 
-
Th 8:30PM - 10:00PM
Note: Enrollment in Section 002 is by permission of instructor only, to be determined by an application process at a future date. For now, please register for one of the other discussion sections.
003 (DIS)
 Online
28567
Closed
0
 
-
Th 10:00AM - 11:30AM
004 (DIS)
 Online
12012
Open
3
 
-
Th 11:30AM - 1:00PM
005 (DIS)
 Online
19281
Open
3
 
-
Th 1:00PM - 2:30PM
006 (DIS)
 Online
27700
Open
2
 
-
Th 1:00PM - 2:30PM
007 (DIS)
 Online
12014
Open
4
 
-
Th 5:30PM - 7:00PM
008 (DIS)
 Online
12015
Closed
0
 
-
Th 2:30PM - 4:00PM
009 (DIS)
 Online
12016
Open
1
 
-
Th 2:30PM - 4:00PM
010 (DIS)
 Online
28568
Closed
0
 
-
Th 11:30AM - 1:00PM
011 (DIS)
 Online
12017
Open
1
 
-
Th 4:00PM - 5:30PM
012 (DIS)
 Online
25770
Open
6
 
-
Th 4:00PM - 5:30PM
013 (DIS)
 Online
27701
Open
3
 
-
Th 5:30PM - 7:00PM
014 (DIS)
 Online
18274
Open
1
 
-
Th 10:00AM - 11:30AM
015 (DIS)
 Online
12013
Open
5
 
-
Th 10:00AM - 11:30AM
016 (DIS)
 Online
28565
Open
6
 
-
Th 8:30AM - 10:00AM
017 (DIS)
 Online
28566
Open
13
 
-
Th 11:30AM - 1:00PM
018 (DIS)
 Online
12011
Open
8
 
-
Th 8:30AM - 10:00AM

Textbooks/Other Materials

The partner U-M / Barnes & Noble Education textbook website is the official way for U-M students to view their upcoming textbook or course material needs, whether they choose to buy from Barnes & Noble Education or not. Students also can view a customized list of their specific textbook needs by clicking a "View/Buy Textbooks" link in their course schedule in Wolverine Access.

Click the button below to view and buy textbooks for ECON 401.001

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Syllabi

Syllabi are available to current LSA students. IMPORTANT: These syllabi are provided to give students a general idea about the courses, as offered by LSA departments and programs in prior academic terms. The syllabi do not necessarily reflect the assignments, sequence of course materials, and/or course expectations that the faculty and departments/programs have for these same courses in the current and/or future terms.

Click the button below to view historical syllabi for ECON 401 (UM login required)

View Historical Syllabi

CourseProfile (Atlas)

The Atlas system, developed by the Center for Academic Innovation, provides additional information about: course enrollments; academic terms and instructors; student academic profiles (school/college, majors), and previous, concurrent, and subsequent course enrollments.

CourseProfile (Atlas)