Amazon logo When you click the Amazon logo to the left of any citation and purchase the book (or other media) from, MIT OpenCourseWare will receive up to 10% of this purchase and any other purchases you make during that visit. This will not increase the cost of your purchase. Links provided are to the US Amazon site, but you can also support OCW through Amazon sites in other regions. Learn more.


Amazon logo Pindyck, Robert S., and Daniel L. Rubinfeld. Microeconomics. 6th ed. Upper Saddle River, NJ: Pearson Prentice Hall, 2004. ISBN: 9788120329218.

The book is also available in digital format from CourseSmart.

Readings by Session

The readings under the two formats are given below. Students are expected to have read the relevant chapters ahead of time.

Format 1: Lecture-recitation

L = Lecture and R = Recitation

L1 What is economics? Chapter 1
R1 Supply-demand analysis Chapter 2
L2 Comparative statics
L3 Dynamic analysis
R2 Utility, revealed preference Chapter 3
L4 Optimization, duality
L5 Demand curves Chapter 4
R3 Engle curves
L6 Risk and uncertainty Chapter 5
R4 Risky behavior, examples
L7 Production Chapter 6
L8 Input use
R5 Review of chapters 1-5 Chapters 1 to 5
L9 Cost curves Chapter 7
R6 Scale and cost
L10 Profit maximization Chapter 8
L11 Entry and exit
R7 Competitive markets Chapter 9
L12 Examples
L13 Competitive markets (cont.)
R8 Economic "surplus" Chapter 16
L14 Efficiency of markets
L15 Market structure
R9 Review of chapters 6-9, 16 Chapters 6-9, 16
L16 Monopoly power Chapter 10
L17 Monopsony – regulation
L18 Pricing power Chapter 11
L19 Pricing power (cont.)
R10 Monopoly-pricing power
L20 Oligopoly Chapters 12-13
L21 Monopolistic competition
L22 Competitive strategy
L23 Factor markets Chapter 14
R11 Factor-labor markets
L24 Labor-land markets
L25 Capital markets Chapter 15
R12 Review of chapters 10-15, 17-18 Chapters 10-15, 17-18
L26 Insurance-risk markets Chapter 17
L27 Government Chapter 18

Format 2: Discussion Sections

D = Discussion and Q = Question and Answer session

D1 Overview: themes, types of markets, economic measurement, economic analysis Chapter 1
D2 The basics of supply and demand Chapter 2
D3 Elasticities of demand Chapter 2
D4 Price elasticity of supply; consumer preferences Chapters 2-3
D5 Deriving MRS from utility function, budget constraints, and interior solution of optimization Chapter 3
D6 Optimization, revealed preference, and deriving individual demand Chapters 3-4
D7 Substitution and income effects, individual and market demand, consumer surplus Chapter 4
D8 Irish potato famine, network externalities, and uncertainty Chapters 4-5
D9 Preference toward risk, risk premium, indifference curves, and reducing risk Chapter 5
D10 Insurance and production functions Chapters 5-6
D11 Production functions Chapter 6
D12 Production functions and cost of production Chapters 6-7
Q1 Review of chapters 1-5
D13 Cost functions Chapter 7
D14 The cost of production and profit maximization Chapters 7-8
D15 Short run and long run supply Chapter 8
D16 Long run supply and the analysis of competitive markets Chapters 8-9
D17 Supply restrictions, tax, and subsidy Chapter 9
D18 Tax, subsidy, and general equilibrium Chapters 9 and 16
D19 Efficiency in exchange, equity and efficiency, and efficiency in production Chapter 16
D20 Production possibilities frontier and output market efficiency Chapter 16
D21 Why markets fail Chapter 16
Q2 Review of chapters 6-9, 16
D22 Monopoly Chapter 10
D23 Monopoly and monopsony Chapter 10
D24 Monopoly and monopsony (cont.) Chapters 10-11
D25 Pricing with market power Chapter 11
D26 Pricing and monopolistic competition Chapters 11-12
D27 Game theory and oligopoly Chapters 12-13
D28 Oligopoly Chapters 12-13
D29 Strategic games Chapters 12-13
D30 Dominant firm model and factor market Chapters 12-14
D31 Factor market Chapter 14
D32 Investment, savings, time, and capital markets Chapter 15
D33 Asymmetric information Chapter 17
D34 Externalities, market failure and government Chapters 17-18
D35 Public goods and review of chapters 10-15, 17-18