Lecture Material

There will be no printed handouts provided in the lectures. Each week the slides will be uploaded in advance of the lectures for you to print out and bring along if you wish to. If you spot any typos in the slides I'd be very happy if you emailed me to alert me.

Some papers

Milton Friedman on the methodology of economics:   Paper
John Broome on the shifting meaning of the term "utility":   Paper
Paul Samuelson on the role of maths in economic analysis:   Paper
Ken Binmore on the vexed question of interpersonal utility comparisons:   Paper
Amartya Sen on whether Pareto Efficiency is really a "no brainer" (the answer is "no"):   Paper

Michaelmas Term Lectures

Lectures 1 and 2: Introduction to Micro & Consumer Theory Lecture Slides   Try this!   [Winner! Chris Brookes (Wadham). Hon Mensh: David Wong (HMC)]
[a simple market; linear and nonlinear budget constraints; applications: taxation of labour income and savings/consumption]

Lectures 3 and 4: Consumer Theory Lecture Slides   Try this!   [Winner! Filip Falk Hartelius (Univ) . Hon Mensh: Xiao Chen (Merton)]
[functions; preferences; the utility function, the MRS, consumer choice]

Lectures 5 and 6: Consumer Theory Lectures Slides   Try this! [A Univ lock out this week! Winner! Leon Musolff (Univ) . Hon Mensh: Filip Falk Hartelius (Univ)]
[revealed preference, elasticities, income/substitution effects, the Slutsky Equation, applications: reforms to in-work benefits]

Lectures 7 and 8: Consumer Theory Lectures Slides   Try this! [Winner! Leon Musolff (Univ) . Hon Menshs (for assorted reasons): Daniel Timms (Jesus), Sarah Ridout (Balliol)]
[differentiation, unconstrained optimisation, elasticities, the Slutsky Equation, consumer choice and Marshallian demands]

Lectures 9 and 10: Consumer Theory Lectures Slides   Try this! [Winner! *** Sarah Ridout (Balliol) ***]
[measuring economic welfare; CV/EV, cost of living indices and consumer surplus; approximations; constrained optimisation]

Lectures 11 and 12: Theory of the Firm: The Competitive Firm Lectures Slides   Try this! [Winner! Ryan Ng (Merton) .]
[technology, returns to scale, profit maximisation, cost minimisation, factor demands, cost curves, competitive supply, entry and exit]

Lectures 13 and 14: Theory of the Firm : Monopoly and Monopolistic Competition Lectures Slides   Try this! [Rostyslav Averchuk (Blackfriars) . Hon Mensh: Rebecca Abrey (St Hugh's))]
[market power, rents and profits, welfare cost of monopoly, price discrimination, monopolistic competition]

Lectures 15 and 16: Theory of the Firm : Oligopoly and Strategic Interaction Lectures Slides  
[Nash equilibrium, Cournot, Bertrand, Stackleberg, Price-leadership models]

Hilary Term Lectures

Lectures 17 and 18: Partial Equilibrium Lectures Slides  
[Sequences, series and limits, etc., Partial equilibrium, tax incidence, etc.]

Lectures 19 and 20: General Equilibrium and Externalities Lectures Slides  
[General Equilibrium, the Welfare Theorems, Pareto Efficiency, Externalities]