Econ 101 - Microeconomic Theory

Introduction

John Asker
University of California, Los Angeles

Winter 2023
John Asker

▶ B.Economics, Australian National University,

Ph.D. Economics, Harvard
▶ 9th year at UCLA
▶ Previously: 10 years at the NYU Stern Business
School (and shorter stints at Yale Law School,
Columbia U. and in government)

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John Asker

▶ B.Economics, Australian National University,

Ph.D. Economics, Harvard
▶ 9th year at UCLA
▶ Previously: 10 years at the NYU Stern Business
School (and shorter stints at Yale Law School,
Columbia U. and in government)
▶ Research interests
▶ Antitrust: Mergers and Collusion
▶ Economics of supply chains

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Grade parts
▶ Homework (10%) - 4 graded, 7 distributed
▶ Midterm tests
▶ Midterm #1: Feb 1
▶ Midterm #2: Feb 22
▶ No make-up exams
▶ Final exam (cumulative): TBA

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Grade parts
▶ Homework (10%) - 4 graded, 7 distributed
▶ Midterm tests
▶ Midterm #1: Feb 1
▶ Midterm #2: Feb 22
▶ No make-up exams
▶ Final exam (cumulative): TBA
▶ If score in final is lower than scores of both midterms
▶ Each exam counts 30%

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Grade parts
▶ Homework (10%) - 4 graded, 7 distributed
▶ Midterm tests
▶ Midterm #1: Feb 1
▶ Midterm #2: Feb 22
▶ No make-up exams
▶ Final exam (cumulative): TBA
▶ If score in final is lower than scores of both midterms
▶ Each exam counts 30%
▶ If score in final is greater than score of at least one
midterm
▶ Final counts 60%; best midterm counts 30%; drop
worst midterm
Econ 101 - Microeconomic Theory Introduction 2 / 13
This grading scheme is designed:

▶ To give students an opportunity to improve their

grades if they do poorly on the first midterm
▶ To ensure I apply a consistent and fair policy in the
unusual case that a student must miss a midterm
▶ To avoid heavy weight on a single poor exam
performance

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Grading

▶ Will there be a curve?

▶ Yes

▶ But it depends on the performance of the class

▶ If I believe that the class as a whole does well in the

course, I will use a generous curve

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About the problem sets

▶ Approximately one per week, starting on week 2 (due

on week 3)
▶ Multiple choice, to better approximate the exam
experience
▶ You must submit your answers on the course website

▶ I will not accept late problem sets

▶ Each student’s lowest homework grade will be

dropped

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What is expected from you

▶ Print slides and other material before class

▶ Be a good citizen: no cell phones, laptops or tablets;
be on time
▶ Try to participate actively in class
▶ Work on the problem sets: best way to prepare for
exams!!!
▶ You are responsible for knowing and understanding
the content of the syllabus

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What is expected from you

▶ I do not take attendance

▶ But classes may cover material not in the textbook

nor in the notes

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What is expected from you

▶ I do not take attendance

▶ But classes may cover material not in the textbook

nor in the notes
▶ Help: John Asker
▶ Email: johnasker@econ.ucla.edu
▶ Office: 8363 Bunche Hall
▶ Office hours: Monday 3:45-5:00 pm
▶ For almost everything, your TA should be your first
point of contact

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Course materials

▶ All announcements, slides, notes and problem sets

on the course website
▶ It is your responsibility to check the website regularly

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Course materials

▶ All announcements, slides, notes and problem sets

on the course website
▶ It is your responsibility to check the website regularly

▶ Textbook (completely optional)

▶ Nicholson and Snyder’s Microeconomic Theory

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Class Website

https://bruinlearn.ucla.edu/courses/154355

▶ Check it regularly

▶ Among other things, you will find

▶ Recorded lectures (BuinCast)
▶ Problem sets and their solutions
▶ Practice exams

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Discussion sections

▶ Start this week

▶ May focus on the problem set assigned the previous

week
▶ Also go over additional exercises

▶ TAs will answer question about the material covered

during the lectures that week

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Economics 189 — Honor’s Seminar

▶ You should have received an email about this already

with a syllabus attached. Please review email and
syllabus if interested.

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What have you already seen?

▶ Consumer Theory: preferences; utility maximization;

income and substitution effects; demand

▶ Producer Theory: production functions; cost

functions; profit maximization; supply

▶ Equilibrium: partial equilibrium, welfare, perfect

competition

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What is this course about?

1. Monopoly

2. Imperfect competition and Game Theory

3. Choice under uncertainty and risk

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