ECON 3030 Advanced Microeconomic Theory 1
FALL 2025, Tuesday & Thursday 9am - 10:15am, WWPH 4940

Instructor:
Luca Rigotti, 4915 Posvar Hall, luca at pitt dot edu
Office hours: Wednesday, 1:30pm - 3pm

Teaching Assistant:
Jun Hyun Ji, juj25 at pitt dot edu
Recitations: Thursday 1pm to 2:15pm, location TBA
Office Hours: TBA

Announcements:
none

Suggested texts:
Kreps, Microeconomic Foundations I: Choice and Competitive Markets, Princeton University Press
Mas-Collel, Whinston and Green, Microeconomic Theory, 3rd Edition.
Ariel Rubinstein, Lecture Notes in Microeconomic Theory.
A fantastic source is Debreu's Theory of Value. It is downloadable, but everyone should own a hard copy.

2025 Handouts
The non General Equilibrium section of these notes originates from David Ahn lecture notes.
Class 1: Preference Relations and Choice Rules
Class 2: WARP and Rationalizable Choices, Utility Functions
Class 3: Preferences and Utility: Debreu's Representation Theorem
Class 4: Structural Properties of Utility Functions, Walrasian Demand

2024 Handouts
Class 5: Walrasian Demand and Indirect Utility Function Properties, Envelope Theorem
Class 6: Comparative Statics, Hicksian Demand and Expenditure Function, Slutsky Decomposition
Class 7: Monotone Comparative Statics, Introduction to Finite Data
Class 8: Generalized Axiom of Revealed Preferences and Afriat's Theorem, Introduction to Decision Making Under Uncertainty
Class 9: Independence, Mixture Space Theorem, and von Neumann & Morgenstern Expected Utility Theorem
Class 10: Anscombe-Aumann Acts, Subjective Expected Utility
Class 11: Expected Utility Over Money and Risk Aversion
Class 12: Absolute and Relative Risk Aversion, Stochastic Dominance
Class 13: Qualitative Probabilities, Paradoxes, Ambiguity
Class 14: Production Sets, Profit Maximization, Cost Curves
Class 15: General Equilibrium Notation, Pareto Efficiency
Class 16: The Core, Social Welfare Function and Pareto Optimality
Class 17: Pareto Efficiency and Planner's Problems
Class 18: Competitive Equilibrium
Class 19: First Welfare Theorem
Class 20: Second Welfare Theorem
Class 21: Differentiable Economies and Welfare Theorems, Excess Demand and Equilibrium
Class 22: Existence of a Competitive Equilibrium
Class 23: Dated Events Contingent Commodities and Arrow-Debreu Equilibrium
Class 24: Differentiable Arrow-Debreu Economies
Class 25: Radner Equilibrium, Asset Markets, Arbitrage
Class 26: Last Class