Materials from Class
Topics covered each day plus copies of handouts. Related sections of Perloff are shown in square brackets: for example, [P 2.1] indicates Perloff section 2.1.
Demand, Supply and Markets
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Tue Aug 31
- Course mechanics; market for lemons; adverse selection; signalling.
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Thu Sep 2
- Willingness to pay (W2P); individual demand; marginal benefits (MB); consumer surplus (CS); market demand; willingness to accept (W2A); individual supply; producer surplus (PS); market supply. [P 2.1, 2.2, 9.1, 9.2]
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Tue Sep 7
- Deriving market demand and supply from W2P and W2A in algebraic form; market equilibrium; gains from trade; waiver market equilibrium. [P 2.3]
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Peter J Wilcoxen, The Maxwell School, Syracuse University
Revised 09/08/2010
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