The Maxwell School
Syracuse University
PAI 723 Economics for Public Decisions
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Materials from Class
Mon 9/11
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Topics
Deriving individual and market demand
Deriving individual and market supply
Finding the market equilibrium
Computing consumer (CS), producer (PS) and social surplus (SS)
Class Materials
Individual and market demand
Daily exercise on market demand
Daily exercise solution
Converting a demand curve to WTP form
Individual and market supply
Finding the equilibrium
Impacts on agents
Other Resources
Readings and exercises on market equilibrium
Readings and exercises on CS
Readings and exercises on PS
Economics Skills Project MD-101 on deriving demand from WTP
Economics Skills Project MD-151 on deriving a market demand curve
Economics Skills Project MS-101 on deriving supply from WTA
Economics Skills Project MS-151 on deriving a market supply curve
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Peter J Wilcoxen, The Maxwell School, Syracuse University
Revised 01/08/2024
