University of Pennsylvania

THE WHARTON SCHOOL MGEC 6120
UNIVERSITY OF PENNSYLVANIA ADVANCED MICROECONOMICS FOR MANAGERS
Course Syllabus, Fall 2022

Microeconomic foundations for business decision-making. Enrollment limited to full-time
Wharton MBA students.
Professors
Clémence Idoux, Benjamin Lockwood, and Deniz Selman
Lectures
Tuesdays and Thursdays during the second half of the fall semester. You are automatically
enrolled in a course section with your cohort. See Canvas for meeting times and location.
Deliverables
Your grade for the course will be based on the following components:
1. Class attendance and participation (10% of final grade)
2. Practice questions (5 sets; 40% of final grade)
a. Multiple-choice and true-false questions on the current week’s topics (same
format as exam questions)
b. On each problem set, we only count the 10 questions on which you did best,
but you are strongly encouraged to attempt all of them
c. Only your 4 best problem sets count for the final grade
d. Due dates are announced on Canvas
3. Final exam (50% of final grade)
a. In-person exam on campus; details of exam format will be provided later.
b. Date and time will be set by the registrar; see the online exam calendar.
c. If you have questions about attendance, see Wharton’s exam conflict policy.
How to be successful in this class

This is a quantitative class. The exam tests your ability to apply the ideas we learn, rather
than memorization. The best way to study is to practice working through the examples from
class by hand and to attempt to solve all practice problems on your own. Repetition is very
helpful. We recommend working in groups, for example, with your learning team. Such
collaboration often work best if all members attempt to work through the problems
independently before meeting as a group.
How to get help

If you have questions, or are struggling with the material, there are many ways to get help:
1. Email Dr MGEC at mgec.questions@gmail.com. This is your primary contact
for all MGEC-related questions.
2. Attend TA office hours. Free tutoring time with a second-year MBA student TA.
Offered several times a week. See Canvas for the schedule.
3. Attend weekly TA sessions (aka recitation). An MBA student TA will work
through problems similar to practice and exam questions at a slower pace and in
more detail than during lectures. These are offered several times a week. See
Canvas for the schedule.
1
4. Attend your professor’s office hours. See Canvas for the schedule.
Readings
We sometimes assign short newspaper articles and other readings in preparation for the
lectures. They will be posted on Canvas along with all other course material.
There is no required textbook for the course. If you wish to have one as an additional
resource—say, because you have little background in economics, or you haven’t seen
similar material in years, or you would just like to dig deeper—we recommend
Microeconomics by B. Douglas Bernheim and Michael D. Whinston (McGraw Hill); any
edition is fine.
Attendance Policy
We follow the MBA Program Attendance Policy. Student attendance is expected and
required. You are responsible for recording your attendance using the Canvas app. Absences
due to Personal Health, Personal/Family Emergency, and Religious Observance are
automatically excused. In addition, you are allowed two unexcused absences. All lectures
are recorded; the recordings are posted on Panopto (see link on Canvas).
If something prevents you from doing the scheduled coursework, please contact your
instructor and your advisor in the MBA Program Office as soon as possible.
Grading Policies
 Practice problems and the final exam are graded electronically, and scores will be
posted on Canvas. For practice problems, the scores become final 7 days after the due
date of the assessment. Any inquiries about them must be submitted in writing prior to
this 7- day deadline. The deadline for inquiries about exam scores will be announced
later.
 Any evidence of cheating is sent immediately to the Dean.
Course Outline
1. Undifferentiated Oligopoly (10/25)
2. First-Mover Advantage (10/27)
3. Differentiated Products: Individual Choice and Demand (11/1)
4. Differentiated Products: Competition and Product Lines (11/3)
5. Perfect and Demographic Price Discrimination (11/8)
6. Quantity-Based Pricing (11/10)
7. Bundling (11/15)
8. Uncertainty (11/17)
9. Adverse Selection (11/29)
10. Moral Hazard (12/1)
11. Auctions (12/6)
12. Final Exam Review (12/8)
Lecture slides and readings for each class will be posted on Canvas.

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THE WHARTON SCHOOL MGEC 6120

UNIVERSITY OF PENNSYLVANIA ADVANCED MICROECONOMICS FOR MANAGERS

Course Syllabus, Fall 2022

How to be successful in this class

How to get help

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