Elasticity and taxation e the minimum wage class

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Elasticity and Taxation E. The minimum wage Class Discussion F. The 15 dollar an hour movement Class Discussion Required Reading: (1) Mankiw, Ch. 6 (2) TBA APLIA DUE: Monday, February 19. Chapters 4, 5 PART THREE: MARKETS AND WELFARE I. Consumers, Producers and Efficiency of Markets (W Feb 21) A. Consumer Surplus B. Producer Surplus C. Market Efficiency D. Market Failure Required Reading: (1) Mankiw, Ch. 7
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Microeconomic Analysis (4 credits) Econ 1310 Section 02 II . Application: Theory of Taxation Costs (F Feb 23) A. The deadweight loss B. The determinants of deadweight loss C. The Laffer Curve Required Reading: (1) Mankiw, Ch. 8 APLIA DUE: Friday February 23. Chapter 7 III. Application: International Trade (M Feb 26 – W Feb 28) A. Why Trade? B. Winners and Losers from Trade C. The Effect of an Tariff D. Arguments in Favor and Against Free Trade Class Discussion Required Reading: (1) Mankiw, Ch. 9 IV. Interdependence and the Gains from Trade (F March 2 – M March 5) A The concept of opportunity cost revisited B. Specialization and trade C. The principle of absolute advantage D. The principle of comparative advantage E. A brief note on David Ricardo Required Reading: (1) Mankiw, Chapter 3. APLIA DUE: Monday, March 5: Chapter 3, Chapter 9. Wednesday March 7: Review And Catch-Up Friday March 9: EXAM ONE PART FOUR: ECONOMICS OF THE PUBLIC SECTOR I. Externalites (M March 12 - F March 16) A. Positive B. Negative C. Redressing Externalities D. Is there an Optimal Level of Pollution E. The Coase Theorem F. Global Warming: Insights From Economics Class Discussion
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Microeconomic Analysis (4 credits) Econ 1310 Section 02 Required Reading: (1) Mankiw, Ch. 10 Spring Break: March 17 -March 25 II. Public Goods and Common Resources (M March 26) A. Public vs. Private Goods B. How much is a life worth? Class Discussion C. Common Resources D. The Importance of Private Property Required Reading: (1) Mankiw, Ch. 11 (2) TBA APLIA DUE: Wednesday March 28. Chapter 10, Chapter 11. III. The Design of the US Tax System (W March 28 – F March 30) A. Overview of Spending and Revenue of the Federal Sector B. Social Security, Medicare, and Medicaid Class Discussion C. Overview of Spending and Revenue of the State Sector D. Taxes and Efficiency E. Taxes and Equity Class Discussion F. A Note on the Corporate tax Required Readings: (1) Mankiw, Ch. 12 (2) TBA PART FIVE: FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY I. The Costs of Production (M April 2) A. The costs of production: total, fixed and marginal B. Graphical depiction of the costs of production C. Short run versus long run D. Increasing costs versus decreasing costs Required Reading: (1) Mankiw, Ch. 13 (2) TBA APLIA DUE: Friday April 6. Chapter 12, Chapter 13. II. The Firm in Competitive Markets (W April 4 – F April 6)
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Microeconomic Analysis (4 credits) Econ 1310 Section 02 A. Meaning of competition and competitive markets B. Deriving the firm’s supply curve C. Profit maximization in the short run D. Profit maximization in the long run Required Reading: (1) Mankiw, Ch. 14 III. Monopoly ( M April 9 – W April 11) A. Definition and characteristics of monopoly B. Profit maximization of the monopolist C.
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