MA - W1 - Microeconomic Applications Jim Meehan Ec. 223...

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Microeconomic Applications Jim Meehan Ec. 223 (2010) Below, are several articles that appeared in the press within the past few weeks. These articles deal with micro economic issues. We will spend the semester focusing on consumer choice and the theory of markets. However, one of our goals is to get us to start thinking about economic phenomena that we observe every day. Although markets differ (the way they work are shaped by regulations, custom, and various institutions that surround them), theory can be used to help us understand how they work. When I run across blogs and articles that relate to microeconomics, I will send them along to you. Sometimes I will comment on the article and sometimes I will leave it to you read and think about. If you see an article that you think will be of interest to the class, send it along and I will pass it along to the class. If you have questions about any of these articles, feel free to bring them up. If we have time, we may discuss them in class but feel free to discuss them with me after class or during my office hours. 1. Robert Mays, “Losses Piling Up for Scalpers,” Boston Globe (August 17, 2010), ( http://www.boston.com/sports/baseball/redsox/articles/2010/08/17/losses_piling_up_lately_for_areas_scal pers_at_fenway_park/?s_campaign=8315 ). The Sox claim that they are sold out for every game. This is true, all of the seats are sold but re-sellers hold many of these seats and sell them prior to the game. Lately, the demand for Sox games has declined. Who bears the cost of the decline? Who gets the benefits when the game is a big game? Also, why would you prefer to buy a ticket from StubHub or ACE Tickets rather than a person standing outside of the gate? 2. Tyler Cowen, “Free Parking Comes at a Price,” New York Times (August 14
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This note was uploaded on 10/27/2011 for the course ECON 125 taught by Professor Diannelabert during the Spring '11 term at Hamilton College.

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MA - W1 - Microeconomic Applications Jim Meehan Ec. 223...

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