What We Do This Week:
Read Essentials of Economics, chapter 4 "Price Controls and Quotas: Meddling with the Market". Finish and hand in Problem Set 1
- M Feb 3: Working with Supply and Demand
- W Feb 5: Surplus and Welfare
- Section 3: Doing Problems: Short Run-Long Run and Producer-Consumer Surplus
- How Markets Work: Supply Curves
- How Markets Work: Demand and Equilibrium
- How Markets Work: Surplus
- How Markets Work: What's Wrong with Surplus?
- How Markets Work: Shifting Curves
- How Markets Work: Price Ceilings
- Further Reading:
- Ernst Fehr and Antonio Rangel "Neuroeconomic Foundations of Economic Choice--Recent Advances"
- David Colander, "Retrospectives: Edgeworth's Hedonimeter and the Quest to Measure Utility"
- Emiko Terazono, "Courted for cashews, west African farmers gain strength"
- John Maynard Keynes, A Definition of What Economics Should Be
- Robert Solow vs. Greg Mankiw on Moral Philosophy: The 1%
- Amartya Sen, Poverty and Famines: An Essay on Entitlement and Deprivation