CONSUMER PROBLEMS
1) Representing Budgets and Preferences: How do you translate from a description to budgets/indifference curves
2) Optimal Choice: At the optimal bundle what relation does the indifference curve have to the budget line?
3) Risk and Insurance: How do we represent a risk-averse consumer’s preferences over consumption in mutually exclusive and probabilistic states of the world.
4) Demand: How does optimal choice respond to changes in prices and incomes, at the individual and market level, for difference sorts of goods?