Econ 2010 (Edward)
Lecture Notes
These are rough notes, with typos, writeos, spelling errors, and, for sure, errors of judgement and logic.
Even with all those qualifications, I am assuming you prefer that I post these, and I assume you will not abuse me on the basis of their content.
You are responsible for all of the materials in these notes, even if I do not have time to lecture on all of these notes in class.
Introduction and Chapter 1 kind of stuff
An introduction to choices, constraints and how economists think
Three minutes on opportunity cost
Chapter 2 kind of stuff
An introduction to economic models
Britta (a former student) asked me to add a few notes on absolute and comparative advantage
Chapter 3 kind of stuff
An introduction to demand functions, supply functions, and competitive market equilibrium
Reading: Robert Frank, Supply, demand and marriage, NY Times 08/06/2011
Chapter 4 kind of stuff
A start on valuation (market and nonmarket): valuation and consumer's surplus)
A brief introduction to travel-cost modeling: Coeur d'Alene
Chapter 5 kind of stuff
Messing with the market: price controls and quotas
Reading: Two taxi medallions sell for $1 million each: NYT 10/20/2011
Before the first midterm kind of stuff
A few review thoughts before the first midterm
Chapter 6 kind of stuff
OPECs oil revenues and the price elasticity of demand for oil
Chapter 10 kind of stuff
Budget contraints: boyfriend only shops
Chapter 11 kind of stuff
Utility functions and indifference curves
Chapter 12 and 13 kind of stuff
Fred's misguided sports parent (Edward) -the theory of the competitive firm
The theory of the firm in a nutshell
Chapter 13 (in the first edition of the book, but not the second) kind of stuff
Efficieny, equity and the market's ability to achieve an efficient allocation
This chapter from the first edition is on the course web page.
Chapter 17 kind of stuff
External effects, externalities, and pollution
Achieving Environmental goals at minimum cost
Chapter 18 kind of stuff
An introduction to common-property resources
An introduction to public commodities
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