Concepts to learn: Consumer surplus, producer surplus, social surplus, efficiency, tax incidence and deadweight loss Book chapter: 5 October 15 8: Markets for labor and other resources; Concepts to learn: factors of production, marginal product of labor (once again), labor market, capital and land Book chapter: 14 Review for the second in-class exam: October 17 The second in-class exam: October 22 October 24 9. Price control: Concepts to learn: Price floors, price ceilings October 29, 31 10: Market failures: Concepts to learn: externalities, pollution, public goods Book chapter: 6 November 5 and 7 11: International trade: Concepts to learn: Production possibilities (frontier), free trade, comparative advantage, tariffs Book chapters: 2 & 19 No class on Nov 12 (Veterans Day) November 14 12: Monopoly: Concepts to learn: Monopoly, Revenue and Marginal revenue, inefficiency of monopoly, price discrimination Book chapters: 10 Unfinished business and review for the third in-class exam on November 19 and 21 The third in-class exam on November 26 Review for the final exam on November 28
Concepts to learn: Consumer surplus, producer surplus, social surplus, efficiency, tax incidence and deadweight loss Book chapter: 5 8: Markets for labor and other resources; October 15 Concepts to learn: factors of production, marginal product of labor (once again), labor market, capital and land Book chapter: 14 Review for the second in-class exam: October 17 The second in-class exam: October 22 9. Price control: October 24 Concepts to learn: Price floors, price ceilings 10: Market failures: October 29, 31 Concepts to learn: externalities, pollution, public goods Book chapter: 6 11: International trade: November 5 and 7 Concepts to learn: Production possibilities (frontier), free trade, comparative advantage, tariffs Book chapters: 2 & 19 No class on Nov 12 (Veterans Day) 12: Monopoly: November 14 Concepts to learn: Monopoly, Revenue and Marginal revenue, inefficiency of monopoly, price discrimination Book chapters: 10 Unfinished business and review for the third in-class exam on November 19 and 21 The third in-class exam on November 26 Review for the final exam on November 28
eco2023_kaz_2018fall.docx