The Maxwell School
Syracuse University
PAI 723 Economics for Public Decisions
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Materials from Class
Mon 10/16
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Role of the demand elasticity in minimum wage impacts
Example price ceiling: rent control
Modeling individual choice: introduction
Consumption bundles and preferences
Completeness and transitivity axioms
Class Materials
Price floors and the demand elasticity
Price ceiling: rent control
Daily exercise on rent control
Daily exercise solution: rent control
Modeling individual choice
Consumption bundles and preferences
Other Resources
Readings and exercises on price controls
Readings and exercises on preferences and rationality
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Peter J Wilcoxen, The Maxwell School, Syracuse University
Revised 01/08/2024