Menu_28_Sep_10

Menu_28_Sep_10 - v. Economic surplus 3. Quota a. Definition...

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TODAY’S MENU: Tuesday 28 September 2010 I. BUSINESS A. Practice Problems 1. Chapter 9: 1-7, 15-21, 24 II. SUBSTANCE A. Supply and demand in an open economy 1. Importer a. Supply b. Demand c. Consumer surplus d. Producer surplus 2. Exporter a. Supply b. Demand c. Consumer surplus d. Producer surplus B. Trade restrictions 1. Embargo a. Definition 2. Tariff a. Definition b. Effects on. .. i. Price ii. Quantity iii. Consumer surplus iv. Producer surplus
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Unformatted text preview: v. Economic surplus 3. Quota a. Definition b. Effects on. .. i. Price ii. Quantity iii. Consumer surplus iv. Producer surplus v. Economic surplus c. How managed? 4. Tariffs vs. Quotas: longer term results 5. Rationales for imposing restrictions 6. Conclusions III. NEXT TIME A. Begin Chapter 10: The Logic of Individual Choice...
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Menu_28_Sep_10 - v. Economic surplus 3. Quota a. Definition...

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