Online Text and Notes in Intermediate Microeconomics

Tim Wakeley, University of Bath

Fourteen-page booklet, plus references, adapted from Peter Earl & Tim Wakeley (2005) Business Economics: a Contemporary Approach (ISBN 9780077103927).

JISC Open Education Licence
Yoram Bauman, University of Washington

This is a 234-page textbook written by a graduate student. It is available as a single 1Meg PDF file. A separate version with far less maths is also available. The text is in four sections: "One: The Optimising Individual", "One v. One, One v. Many", "Many v. Many" and "The Role of Government".

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Larry Arvan, University of Illinois at Urbana-Champaign

This is a blog, begun in May 2012, in which Prof. Arvan answers questions from students about Microeconomics (Principles or Intermediate). Posts are organised by date and by topic.

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Fred Lee, University of Missouri-Kansas City

Lecture outline from a module in intermediate micro.

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Sergei Izmalkov, MIT

This course webpage supports Intermediate Microeconomic Theory as taught by Sergei Izmalkov of MIT in 2006. Follow the download this course link for a zip file that contains this 22-lecture course. It is divided into "Producer Part," "Consumer Part," "Equilibrium Analysis," "Strategic Considerations" (including asymmetric information) and "Special Topics". Some brief lecture notes for each are archived in PDF.

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R Preston McAfee, California Institute of Technology

This is a complete textbook covering intermediate microeconomics, released online under a Creative Commons license and downloadable as a 352-page PDF file. Chapter titles are "What is Economics?" "Supply and Demand", "The US Economy", "Producer Theory", "Consumer Theory", "Market Imperfections" and "Strategic Behaviour". This text contains a number of topics and case studies not covered in other texts, for details of which see the home page.

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Kevin Hinde, University of Northumbria

This is the support site for a Microeconomics 2 course and has PDF lecture notes and PowerPoint animated slide shows for the following topics: Game Theory, Firms and Markets, Principal Agent Analysis, Production, Costs, Competition and Monopoly, Monopoly Pricing, Cournot Oligopoly, Stackelberg and Bertrand, Cournot with Conjectural Variations, and Price Leadership.

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Kevin Hinde, University of Northumbria

The economics of competition: a global perspective, is part of Kevin Hinde's suite of economics resources. The lecture slide shows are from a course for Business Studies students which "explores the effects of competitive and anti-competitive behaviour in Europe". Lecture topics are: Introduction to Competition and Regulation, Case Study on Regulation: Protecting Consumers, Understanding Markets and Industries, The Welfare Effects of Market Structure, Oligopoly, Barriers to Entry, Cartels, Predatory Behaviour, and Privatisation and Regulation of Public Utilities. They are available in PDF and also as PowerPoint files.

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Anna Nagurney, University of Massachusetts at Amherst

Network Economics is an introductory text by Anna Nagurney of the Isenberg School of Management, University of Massachusetts. It includes notes and reading list on economics of networks, mostly as text and basic diagrams. Includes cost and distance optimisation problems, congestion (including Braess's Paradox) and applications of networks to economics.

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William N Goetzmann, Yale University

An Introduction to Investment Theory is an online textbook "designed for use in a four-week teaching module for master's students studying introductory finance", written by William N. Goetzmann of Yale University, School of Management. Eight chapters covering theories of financial investment decision, risk, portfolio selection, asset pricing, arbitrage, capital market efficiency. Assumes some basic statistical knowledge, but presentation mostly uses diagrams and simple algebra.

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Colin F Camerer, California Institute of Technology, George Loewenstein, Carnegie-Mellon University

Behavioral Economics is a draft of the opening chapter of C Camerer, G Loewenstein and M Rabin (eds)(2003) Advances in Behavioral Economics, Princeton University Press. It covers the main heuristics and judgement biases revealed by psychological experiments and statistical surveys on choice, and the implications for macroeconomics, financial economics, labour economics and other areas where 'rational' choice is traditionally assumes.

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David Friedman, Santa Clara University

This is the complete text (24 chapters) of an intermediate microeconomics textbook, with many graphics. The first edition was published in 1986, with additional chapters added in 1990. Main sections include "Competitive Equilibrium in a Simple Economy", "Complications, or Onward to Reality", "Judging Outcomes" and "Applications, Conventional and Un-". Each chapter includes questions at the end.

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Daniel L McFadden, University of California, Berkeley

This is a large (half-megabyte) PDF file, scanned from 21 pages of typewritten lecture notes, in which Nobel laureate McFadden tells a witty alternative tale of Robinson Crusoe. Walras and Keynes appear on his island to offer advice on the maximisation of happiness and his employment of Man Friday. Indifference curves, production possibility curves and profit maximisation are among the topics addressed.

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Mark S Walbert, Illinois State University

Twelve tutorials on microeconomic topics are available on this course web site, each divided into short chunks and with graphics and Excel worksheets. The topics are: Reservation Prices, Supply and Demand, Price Elasticity, Consumer Choice, Consumer Demand, Production, Costs, Price-taking Firms, Monopolistic Firms, Wage-taking Firms, and Monopsonistic Firms.

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Nobel Foundation

The Nobel Foundation makes available a great deal of material on each of the Economics prize winners, including video of each Prize Lecture since Robert Mundell in 1999. As well as a lay introduction to each prize winner's research, there are "Advanced information" links giving a more technical explanation. This link is to the Economics Network's quick index of lecture videos and related materials on the site. Each video is a full lecture (usually between 40 and 60 minutes) with good audio and video quality, and pitched at a non-technical audience. Transcripts of each lecture are available.

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Ariel Rubinstein, Tel Aviv University

Lecture notes in microeconomic theory: the economic agent is an online text produced by Arial Rubinstein of Tel Aviv University / New York University. It covers advanced topics in microeconomic theory including consumer preferences, expected utility, risk aversion and social choice. The text is presented as a series of PDF chapters, with notes, mathematical proofs, bibliographical notes and problem sets.

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Nicholas Economides, New York University

Nicholas Economides' network economics home page, with links to his main papers on the subject including (most useful for teaching) his 'Economics of Networks' review article, interactive bibliography, and links to US anti-trust materials centred on the Department of Justice vs Microsoft case.

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Margaret Bray, London School of Economics and Political Science

This complete set of materials for teaching income tax has been used in a second year undergraduate microeconomics course for economics specialists at the London School of Economics. The material could also be used in a public finance course. There are 107 Powerpoint slides, a worked example to support the lecture, a class activity involving student presentations (printable instructions for students and for lecturers) and some assessment questions.

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Richard Green, University of Hull

Ten Excel spreadsheets, each with a worksheet in Microsoft Word format, are held here. Each spreadsheet takes several different inputs from the student and the worksheets give specific guidance on how to use them. Topics are: Working with Lines, Market Equilibrium, Market with tax, Cardinal Utility, Consumer Choice, Income and Substitution Effects, Products and Costs, Competitive Firm, Competitive Industry, and Monopoly.

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Xeni Dassiou, City University

Lecture notes on theory of the firm, growth of firms and industry concentration, barriers to entry, product differentiation, welfare effects of monopoly and other industrial topics. Some handwritten; most contain graphical presentation as well as algebra, some accompanied by slides. Linked to 10-week Industrial Economics course at City University, as taught in 2005.

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Marcos Vera-Hernandez, University College London

PowerPoint presentation depicting decision-making under risk, showing how risk attitudes can be examined using choices among lotteries or willingness to pay for insurances. Shows how risk attitudes can be captured in convexity of the indifference curve or strict concavity of the utility function; and how risk aversion can be quantified by the ratio of second and first derivatives of the utility function, implying that it falls as wealth increases.

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Marcos Vera-Hernandez, University College London

Archived page from a course taught in 2008. It contains 100+ lecture slides covering the demand and supply sides of partial equilibrium analysis, including effects of shifts in demand and supply, price elasticities of demand and supply, short- and long-run changes, efficiency and welfare analysis, impact of taxes and price controls, extension to international trade. Uses clear graphics and simple equations. Also includes a course syllabus, coursework assignments and a sample exam paper.

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John Hey, University of York

This is an almost complete, detailed intermediate micro textbook. The book is arranged into four parts: "Economies without Production", "Economies with Production", "Applications and Implications of the Basic Tools" and "Market Inefficiencies of Various Types". There are also lecture notes with graphs to accompany most chapters, generated in Maple and converted to HTML.

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Ian Wooton, Strathclyde University, Stewart Dunlop, Strathclyde University

This course webpage for Prices and Markets, as taught at Strathclyde University includes sets of lecture slides for the 2003/4 course in PDF, as well as problem sets (short answer and True/False) with answers in a separate file. There are also some sample questions from past exams. The site is no longer online so this link goes to the Web Archive's copy.

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Allan Schmid, Michigan State University

Institutional Economics site containing links to course outlines for 30+ institutional, behavioural and heterodox economics courses, mostly in the US. Online access to Allan Schmid's working papers, and book 'Property, Power and Public Choice' (in English and Spanish). This argues the general case for countries' economic performance being affected the institutions that shape agents' choices and governments' policymaking, then sets out (and offers some secondary empirical support for) some hypotheses on the impact of different property rights arrangements.

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Vivek Chaudhri and Bob Marks, University of New South Wales

A dozen sets of bullet-point lecture slides from an MBA course in microeconomic analysis, with some past exercises. Topics are: Creating Value, Added Value in Trade, Monopolistic Markets, Costs of Production to Mass Markets, Pricing to Mass Markets, Pricing with Multiple Buyers and Sellers, Production in Perfectly Competitive Markets, Barriers to Entry and Competition, Game Theory Revisited, Oligopoly, and Review and Extensions to Business Strategy.

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Daniel S Christiansen, Albion College

Created to accompany an intermediate microeconomics course, these PDF files include text, equations and graphs, with hyperlinks to help the reader navigate around each of the 13 tutorials. The files also include interactive multiple-choice quizzes. Topics covered include Decisions and Markets, Pricing and Equilibrium and Tradeoffs and Choice. This link is to Archive.org's copy of the site, dating from November 2005.

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Susan Athey, MIT

This is a course web site from 1999, with links to sites for previous years. It includes problems sets, suggested readings and past exams papers. Topics addressed are: Axiomatic development of utility functions, Axiomatic development of expected utility, Applying expected utility theory, Introduction to Revealed Preference, Consumer Theory Handout, Consumer Theory: Summing Up, and Applied Consumer Theory. All material is in PDF.

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Hal R Varian, University of California, Berkeley

This 134-page PDF file contains notes for slides for the whole of the fifth edition of Varian's textbook on intermediate microeconomics.

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Michael C Lovell, Wesleyan University

Four sample chapters from this text for mathematically adept students are available for download. The chapters are "Introduction", "Supply and Demand", "The Business Enterprise: Theory of the Firm" and "Growth and Development". More than 150 pages of material are included, plus the book's preface and contents.

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Robert Marks, University of New South Wales
This link takes you directly to a PDF file of a Robert Marks chapter on demand. It covers a "theory of market demand from a small number of axioms of rational choice", including a theory of rational choice, utility bundles and indifference curves, constrained maximisation of utility, the Edgeworth Box, individual demand function, comparative statics, including the Slutsky equation and the market demand curve and relevant elasticities.

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