This class gifts microeconomic principle as well as applications of consumer and additionally music producer behavior and benefit analysis at just an intermediate level. In addition to standard competitive designs, we research deviations due to externalities, asymmetric information, and also imperfect rationality. We apply this material to insurance policy debates such as minimum wage guidelines, food stamp provision, trade protective covering, educational qualifications, health insurance markets, as well as property markets.
Introduction and a first application: the minimum wage debate and causal inference in economics
Axioms of consumer preference and the theory of choice
Theory of choice and individual demand
The expenditure function: an application to the economics of food stamps
Compensated and uncompensated demand functions with an application to Giffen goods
Autor, David. 14.03 Microeconomic Theory and Public Policy, Fall 2010. (Massachusetts Institute of Technology: MIT OpenCourseWare),http://ocw.mit.edu (Accessed 30 Jul, 2012). License: Creative Commons BY-NC-SA