1st Edition
ECON 221: Prin of Microeconomics
School: University Of South Carolina-Columbia (SC )
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Pages: 4This lecture discusses the concept of asymmetric information and specifics regarding this concept such as: uncertainty, risk aversion, moral hazard and adverse selection. -
Pages: 4This lecture discusses the market concept of oligopolies. The lecture also covered specifics of oligopolies such as: game theory, profit maximization, and tacit collusion. -
Pages: 3This lecture covers the concept of monopolistic competition. It also discusses examples of monopolistic competition, as well as short run and long run effects. -
Pages: 4This lecture discusses markets considered to be monopolistic. The lecture also covers certain specifics such as: profit maximization, marginal revenue, natural monopolies and price discrimination. -
Pages: 5This lecture continues to cover perfect competition in markets, profit maximization and when markets should stay in a market or exit a market. -
Pages: 3This lecture continues to describe production factors and firm decision-making in order to maximize profit. It also briefly covers cost curves. -
Pages: 3This lecture covers the fundamentals of production. This lecture also covers production and cost functions. -
Pages: 8This study guide discusses topics covered in lectures 10 - 15. The material covered in this study guide includes: elasticity, externalities, public goods and taxation. -
Pages: 3This lecture briefly recaps marginal social cost and benefit, it also discusses the concept of public goods. -
Pages: 4This lecture introduces the concept of externalities, what causes an externality to be negative or positive, how to model externalities and how private or governmental solutions can solve externalities. -
Pages: 3This lecture recaps elasticity and goes into more depth about taxation and the effect of government intervention on taxation. -
Pages: 3This lecture discusses the concept of elasticity, as well as the formulas for elasticity for supply and demand. There is also a brief overview of taxation and the effects of government intervention. -
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Pages: 3This lecture summarizes the impact of world markets on trade, as well as world prices and consequences. -
Pages: 3This lecture covers the impact of trade on supply and demand. -
Pages: 2This lecture reviews efficiency, then begins discussing government intervention on wages and price controls. -
Pages: 3This lecture covers the definition of efficiency and willingness to pay regarding consumers. This lecture also covers the concepts of consumer surplus and producer surplus. -
Pages: 2This lecture discusses the cause of supply curve and demand curve shifts. -
Pages: 3This lecture covers the introduction to supply and demand, as well as how markets are organized. -
Pages: 4This lecture covers optimization, how we weigh cost and benefits, and the definition of marginal analysis. -
Pages: 3This lecture discusses the empiricism of economics and how economists make and test predictions. -
