Block 2 Extensions and Applications.pdf - Block 2 Extensions and Applications Block 2 Extensions and Applications 2.4 Government policies 2.5

Block 2 Extensions and Applications.pdf - Block 2...

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1 Block 2. Extensions and Applications. Block 2. Extensions and Applications 2.4. Government policies 2.5. International trade 2.6. Market failures
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2 Block 2. Extensions and Applications 2.4. Government policies Controls on prices Taxes Subsidies Block 2. Extensions and Applications 2.5. International trade The world price, imports and exports Effects of a tariff Arguments for restricting trade
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3 Block 2. Extensions and Applications 2.6. Market failures Externalities Public goods and common resources Asymmetric information Bibliographical References ° N. Gregory Mankiw (2015): Principles of Economics. 7th edition. Cengage Learning. Part II: SUPPLY AND DEMAND I: HOW MARKETS WORK. ± Chapter 6. Supply, Demand and Government Policies. Part III: SUPPLY AND DEMAND II: MARKETS AND WELFARE. ± Chapter 8. Application: The Costs of Taxation. ± Chapter 9. Application: International Trade. Part IV: THE ECONOMICS OF PUBLIC SECTOR ± Chapter 10. Externalities. ± Chapter 11. Public Goods and Common Resources.
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4 Bibliographical References ° Paul Krugman, Robin Wells and Kathryn Graddy (2015) “Essentials of Economics” 3rd edition. Worth Publishers-Macmillan Education. ± Chapter 4. Price Controls and Quotas: Meddling with Markets. // The Market Strikes Back. ± Chapter 5. Elasticity and Taxation. ± Chapter 9. Externalities and Public Goods. Market Equilibrium
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5 Price Above Its Equilibrium Level Creates a Surplus Price Below Its Equilibrium Level Creates a Shortage
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6 Scissors Model The Law of Supply and Demand Equilibrium and Shifts of the Demand Curve Equilibrium and Shifts of the Supply Curve Scissors Model The Law of Supply and Demand
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7 Simultaneous Shifts of the Demand and Supply Curves Scissors Model The Law of Supply and Demand The Market for Apartments in the Absence of Government Controls
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8 The Effects of a Price Ceiling The Market for Butter in the Absence of Government Controls
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9 The Effects of a Price Floor An Excise Tax Paid Mainly by Consumers
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10 An Excise Tax Paid Mainly by Producers Total Surplus
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11 A Tax Reduces Consumer and Producer Surplus The Deadweight Loss of a Tax
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12 Deadweight Loss and Elasticities Deadweight Loss and Elasticities
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13 The Deadweight Loss of a Subsidy Consumer and Producer Surplus in Autarky
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14 The Domestic Market with Imports The Effects of Imports on Surplus
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15 The Domestic Market with Exports The Effect of Exports on Surplus
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16 The Effect of a Tariff A Tariff Reduces Total Surplus
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17 Trade and Economic Integration ° Preferential Trading Area ° Free Trade Area ° Customs Union ° Common Market ° Customs and Monetary Union ° Economic Union ° Economic and Monetary Union ° Political Union (?) The Arguments for Restricting Trade A. The Infant-Industry Argument B. The Unfair-Competition Argument C. The Jobs Argument D. The National-Security Argument E. The Protection as a Bargaining Chip Argument From GATT to WTO Cases: EU (EFTA/EEC), NAFTA, TPP, TTIP(?),…
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18 The Debate: TTIP and CETA °
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