These notes cover the material of the first three weeks in the course. These notes are not a substitute for the book, in particular, I have not given proofs. In the book, you can find the missing steps. In the lecture slides, we will cover the most important points and provide additional examples.
Please note, typos in the numerical example for implicit function theorem. See Lecture slides for Lecture 4 for corrections.
Due May 13. Correction to harmonic mean. For problem 4d, you may take n=1. For question 3, can you see the connection to UMP with Cobb-Douglas and CES functions? In problem 2, I should have written that the consumptions x_i are also positive.