Menu_06_Dec_05

Menu_06_Dec_05 - i. Number of sellers (+) ii. Real wage in...

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TODAY’S MENU: Tuesday 06 December 2005 I. BUSINESS A. Practice Problems 1. Chapter 15: 1, 2, 6, 7, 10 2. Working with Numbers and Graphs: 3 3. Chapter 17: 1-3, 5, 7, 8, 11 4. Working with Numbers and Graphs: 1, 2 B. Final exam: Thursday 15 Dec 7:30-9:30 AM Howe-Russell 130 C. Office hours: Next week 1. Tuesday 13 December: 7:00 till 11:00 AM II. SUBSTANCE A. Labor market 1. Demand a. Changes in demand (shift) i. Productivity (+) ii. Relative price of good (+) iii. Training costs (-) iv. Business expectations 2. Supply a. Changes in supply (shift)
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Unformatted text preview: i. Number of sellers (+) ii. Real wage in other labor markets (-) iii. Non-pecuniary aspects iv. Relocation costs (-) 3. Equilibrium 4. Examples B. Income distribution 1. The basics: Why income inequality exists 2. Measuring income inequality a. Lorenz curve b. Gini coefficient C. Market failure 1. Externalities a. Definition b. Marginal social costs c. Marginal social benefits d. Socially optimal output III: NEXT TIME A. Finish Chapter 17: Market Failure. .....
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Menu_06_Dec_05 - i. Number of sellers (+) ii. Real wage in...

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