Microeconomics I

3 units

First semester of the required microeconomic theory sequence for first-year PhD students at Olin. The first-year sequence prepares students to conduct original research in economics and related fields. Topics for the first half of the semester include individual choice in an abstract setting, decision making under uncertainty, expected utility theory, risk aversion, dynamic choice and an introduction to stochastic choice models. The second half will cover consumer theory, producer theory and general equilibrium.