| SES # | TOPICS |
|---|---|
| 1 |
Course overview Economic efficiency Introduction to supply and demand |
| 2 |
Supply and demand, cont. Price elasticity of demand Price elasticity of supply Income elasticity of demand |
| 3 |
Supply and demand, cont. Problems in the U.S. labor market |
Optional math review |
Optional session to explain first derivatives The basic calculus operation to be used in the course. |
| 4 |
Behind the demand curve Utility theory The allocation of scarce resources |
| 5 |
Behind the demand curve, cont. Income and substitution effects Consumer surplus |
| 6 | The housing and financial bubbles |
| 7 | Technology, costs, returns to scale |
| 8 |
Technology, costs, cont. Profit maximization |
| 9 | Midterm 1 |
| 10 |
Perfect competition Entry and exit |
| 11 |
Perfect competition, cont. Overview of general equilibrium |
| 12 | Imperfect competition I—Monopoly |
| 13 | Imperfect competition II—Price discrimination, monopolistic competition |
| 14-15 | Imperfect competition III—Oligopoly and game theory |
| 16 | Capstone example: Why medical costs rise so fast (including brief discussion of the effects of medical uncertainty, agency and the pernicious role of incentives, etc.) |
| 17 | Midterm 2 |
