Textbooks

Required text

I have listed one textbook as required for the course, mainly because it is nearly encyclopedic in its coverage of microeconomic theory and is the gold standard in the field; also because your other professors will require it:

  • Mas-Colell, Whinston and Green (1995), “Microeconomic Theory,” Oxford University Press [MWG].

Square brackets indicate abbreviated references. Because MWG is very terse, I urge you to have at least one additional graduate level microeconomic text at your disposal.

Additional graduate-level texts

Some other graduate-level texts with which I am familiar and that I believe may be useful are:

  • Jehle and Reny (2011), “Advanced Microeconomic Theory,'' Prentice Hall, Third Edition [J&R].
  • Kreps (1990), “A Course in Microeconomic Theory,'' Princeton University Press [Kreps].
  • Varian (1992), “Microeconomic Analysis,'' Norton [Big Varian].

Kreps has a newer text that can also be useful and is very inexpensive, especially the electronic versions. I will reference it from time to time (along with J&R and Big Varian), although some of the terminology is non-standard and the development is sometimes overly technical for our purposes. Solutions to many of its problems are available in the free Student’s Guide and the math appendices are great; these features alone may make it worth the purchase price.

  • Kreps (2013), “Microeconomic Foundations I,'' Princeton University Press [KrepsNew].

MWG, J&R, and KrepsNew are in the bookstore because they are easy for the bookstore to obtain.

Relevant chapters

This table is a rough guide to the places in each book that refer to the broad topics we will cover in ECN 606:

TopicMWGBig VarianKrepsJ&RKreps New
Preferences & Utility FunctionsCh. 1, 2.A-C, 3.A-C7.12.11.1-1.2Chs. 1-2
Utility Maximization & Demand2.D, 3.D7.2-7.5Ch. 21.3Ch. 3
Comparative Statics of Demand2.E-F, 3.E-FChs. 8,91.4-1.5Ch. 4
Production and CostCh. 5Chs. 1,4,5,67.13.1-3.4Ch. 9
Profit Maximization and SupplyCh. 5Chs. 2,3Ch. 73.5Ch. 9
UncertaintyCh. 6Ch. 11Ch. 32.4Ch. 5
Intertemporal Choice20.A-DCh. 19Ch. 7

Undergraduate texts

I recommend you have a good undergraduate intermediate microeconomics text for developing intuition. I use the 4th edition of Varian’s undergraduate text (“Baby Varian”), but the 7th edition is what has been on reserve.

  • Varian (2006), “Intermediate Microeconomics : A Modern Approach,” Norton, 7th Edition [Baby Varian].

Math references

For math references, I find the appendices of MWG often inaccessible and am not aware of others that are comprehensive. I do, however, like KrepsNew’s appendices on Real Analysis and Convexity. I am a huge fan of the book listed below on optimization by Dixit as well as Simon and Blume’s math for economists book. I will integrate parts of Binmore’s and Velleman’s books in class and suggest them as background preparation for anyone without a background in Real Analysis. I have made available a list of Real Analysis topics from Corbae et al. with which you should endeavor to be familiar. Corbae et al. presents the material in a more complex way than what is needed for our purposes, so the list is useful as a reference but I don’t suggest using this as a text to learn the concepts.

  • Dixit (1990), “Optimization in Economic Theory,” Oxford University Press, Second Edition.
  • Simon and Blume (1994), “Mathematics for Economists,” Norton.
  • Binmore (1982), “Mathematical Analysis: A Straightforward Approach,'' Cambridge University Press, Second Edition.
  • Velleman (2019), “How to Prove it: A Structured Approach,"' Cambridge University Press, Third Edition.
  • Corbae, Stinchcombe and Juraj (2009), “An Introduction to Mathematical Analysis for Economic Theory and Econometrics,'' Princeton.

I have asked the library to have all of these available as electronic resources, but they were not available as of 7/15/2021.

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