Lecture XII Price Takers and Competition
Chapter 9, pages 195-214
I. II. III. IV. V. VI. VII. VIII. Introduction to Market Structure Characteristics of Perfect Competition Perfect Competition Graphically Short Run Equilibrium - Profit Max The Shut
Lecture I The Language of Economics
Chapter 1 pages 1-18
Lecture I: The Language of Economics Lecture
I. Introduction - What is Economics? II. Eight Guideposts to Economic Thinking III. Pitfalls to Avoid in Economic Thinking
I. What is economics?
Lecture II. Math and Graph Review Chapter 1 Addendum pages 20-26
Variables and Relationships Graphing Slopes Linear Equations
Variables and Relationships
Symbols to represent quantities, prices, or other variables.
Y = f(X) is a function
Lecture III Production Possibility Frontiers, Trade, and Growth (Chapter 2 and Addendum, pp. 27-33 and 38-51)
I. II. III. IV.
Production Possibility Frontiers Trade Comparative Advantage Shifting the PPF (Growth)
I. Production Possibility Frontiers (PPFs)
Lecture IV Property Rights and Economic Organization (Ch. 2 pp. 33-38 and 46-47)
The Importance of Property Rights Economic Organization Essentials for transition from command to market economy
True or False:
Elephant populations are more likely to thrive
Why does Supply slope upward?
The Law of Increasing Costs
supply additional units of a good, producers have _ opportunity costs, so the price must _ to induce producers to supply greater quantities. Comparative Advantage of a Resource, from lecture 3.
Lecture VII Markets and the Role of Government
Chapter 5, pages 106-121
Markets and the Role of Government
Economic Efficiency and Purpose of Government Market Failures
Lack of Competition Externalities Public Goods Lack of Information