I just posted a fully worked out version of the midterm exam on the course website; it is located at http://economics.garven.com/fall2009/midtermsolutions.pdf.

We will cover the game theory chapter in the textbook on Monday evening during the regularly scheduled class time (i.e., 6–9 p.m.), so it’s important that you read this chapter prior to coming to class so that you will be adequately prepared for the lecture and discussion.  The game theory naturally follows from our study of oligopoly in chapter 10 of the textbook; in fact, it turns out that the Cournot model (where firms move simultaneously against each other, playing their “best responses”) is a type of Nash equilibrium (see chapter 11 for more details!).

By now, I assume that you have read my earlier posting from this evening entitled “Grade distributions for the Midterm exam and the Course overall”.  Besides reading chapter 11, I also recommend that you look these solutions prior to coming to class.  The scantron forms that I will be handing back to you not only indicate the number of questions that you answered correctly, but they also indicate which ones you got wrong. At your option, you are welcome to stick around with me after the game theory lecture is over for the purpose of going over the exam.  I would call your attention in particular to the five most frequently missed questions on the exam, which were #1, #4, #10, #19, and #21.  If you cannot stay after class to go over the midterm exam with me, then feel free to call me if you have any questions about the exam, or any other matter related to the course.

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