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General Information
🧭 Exam Study Guide
🧭 Finding Things
🔎 Formulas
👨🏫 Solution Recordings, Condensed Slides, etc.
More General Info
🧭 Study Tips for This Class
🙋 How to get the best results when asking a question
📖 Textbook and Readings
Lectures 1-5 and Exam 1
Lecture 1 - Introduction
👨🏫 Notes on Lecture 1
✅ Section Agendas (Lecture 1)
🙋 Student Q&A (Lecture 1)
Additional Pages for L1
📰 Grad Paper Example 1
📰 Grad Paper Example 2
📰 Grad Paper Example 3
Review of e1000 (Essentials of Micro)
👨🏫 Notes on E-1000 Lecture 1
👨🏫 Notes on E-1000 Lecture 2
🔎 E-1000 Move Along vs. Shift the Curve (ie Demand vs QD)
👨🏫 Notes on E-1000 Lecture 3
👨🏫 Notes on E-1000 Lecture 4
🔎 E-1000 Price Ceiling vs. Price Floor
🔎 E-1000 Comparative Statics
👨🏫 Notes on E-1000 Lecture 5
✏️ E-1000 Surplus diagrams
👨🏫 Notes on E-1000 Lecture 6
👨🏫 Notes on E-1000 Lecture 7
✏️E-1000 Cost table with blanks
Lecture 2 - Consumer Choice I
👨🏫 Notes on Lecture 2
🔎 The Big Picture
🔎 3-D picture of the model
🔎 Principles of Indifference Curves
🔎 Learning the MRS
🔎 Two Conditions for a Consumer Optimum
✏️ Budget Constraint Exercises
✏️ L2 Practice - Consumer Choice
✏️ Consumer Choice Q and A
✅ Section Agendas (Lecture 2)
🙋 Student Q&A (Lecture 2)
Lecture 3 - Consumer Choice II
👨🏫 Notes on Lecture 3
🔎 Giffen vs Inferior
✏ "JoAnne's Books vs. Movies" Example
✏️ Is Dana Optimizing? Example
✅ Section Agendas (Lecture 3)
🙋 Student Q&A (Lecture 3)
Lecture 4 - Expected Utility and Insurance
👨🏫 Notes on Lecture 4
✏️ EV Example (Jared Dillian)
✏ Accept the risky sales job?
✏ L4 Practice - Expected Utility
🔎 EV and EU as Weighted Averages
🔎 How do I find the Certainty Equivalent?
🔎 How much would you pay to reduce the chance of loss to zero?
🔎 Attitudes toward risk
📖 Textbook on Insurance
🔎 Cost of Insurance Policies
🔎 What is the Line of Expected Utilities)
✏️ L4 Multiple Choice Practice
✅ Section Agendas (Lecture 4)
🙋 Student Q&A (Lecture 4)
Lecture 5 - Production and Costs
👨🏫 Notes on Lecture 5
🧭 What is a "bite sized" multiple choice question?
🔎 Returns to Scale vs. Economies of Scale vs. Economies of Scope
✏ Economies of Scope Example
✏ Cost Table Fill in the Blanks
✏ Calculating Marginal Products
✏ Determine TC when given MC and FC
✏ Returns to Scale
🔎 MC, AC and AVC
🔎 Long-Run vs. Short-Run Costs (SAC vs LAC vs LMC)
✅ Section Agendas (Lecture 5)
🙋 Student Q&A (Lecture 5)
🔎 Market Structure Comparison
Lecture 6 - Perfect Competition
👨🏫 Notes on Lecture 6
🔎 Why is a firm's demand curve flat?
🔎 How to solve perfect competition problems (three steps)
✏️ Formula Example
🔎 Two cases in the long run
🔎 Accounting vs Economic Costs and Profit
❔ Questions and Answers
❔ Calculating Optimal Quantity and Profit
✅ Section Agendas (Lecture 6)
🙋 Student Q&A (Lecture 6)
Lecture 7 - Monopoly
👨🏫 Notes on L7
🔎 How to solve monopoly problems (three steps)
🔎 Why is MR < D?
🔎 Elasticity, Markup, and Profit
🔎 Sunscreen price discrimination?
🔎 Monopoly Power, Multiple Firms, and Elasticity
🔎 How does price discrimination affect individual consumers and social welfare?
✅ Section Agendas (Lecture 7)
🙋 Student Q&A (Lecture 7)
Lecture 8a - Monopolistic Competition & Oligopoly
👨🏫 Notes on Lecture 8a
🔎 Productive vs. Allocative Efficiency
🔎 Difference between Short and Long run in Monopolistic Competition
✏ Field of Dreams
✅ Section Agendas (Lecture 8)
🙋 Student Q&A (Lecture 8)
Lecture 8b - Game Theory
👨🏫 Notes on Lecture 8b
🔎 Finding Dominant Strategies
🔎 Finding Nash Equilibria
🔎 Nash Equilibrium Examples
🔎 Ron and Cathy break up
🔎 Split or Steal
🔎 The Most Important Game for Oligopolies
📰 John Nash's Prison Breakthrough
🔎 Interesting Examples
✅ Section Agendas (Lecture 8)
🙋 Student Q&A (Lecture 8)
Lecture 9 - Welfare Theory
👨🏫 Notes on Lecture 9
🔎 Stair step demand and supply curves?
🔎 Basic Recipes for CS, PS, TS and GS
✏ Consumer and Producer Surplus with Discrete Goods
🔎 Omniscient Planner
✏️ Surplus Diagrams
🔎 Price Ceiling vs. Price Floor
🔎 Pareto Efficiency
✏️ Calculations with areas
✅ Section Agendas (Lecture 9)
🙋 Student Q&A (Lecture 9)
Lecture 10 - Externalities
👨🏫 Notes on Lecture 10
✏ "Solved Problem 3" - Internalizing the Externality
❔ Economic efficiency Questions and Answers
🔎 Back to the Omniscient Planner
✏ Externalities Practice
✏️ Can you identify whether QEff or QMkt is higher by looking at the triangles?
🔎 MSC = MPC + Additional Costs - Additional Benefits
✅ Section Agendas (Lecture 10)
🙋 Student Q&A (Lecture 10)
Lecture 11 - Asymmetric Information
✏️ Warmup Questions
👨🏫 Notes on Lecture 11
🔎 Why are signals more costly for the low-quality producer?
🔎 Fastest car in the world
🔎 What sort of incentive schemes help overcome principle-agent problems?
📰 Article from The Economist
✏ Information Economics Practice
📰 Asymmetric information with executing stock trades
✅ Section Agendas (Lecture 11)
🙋 Student Q&A (Lecture 11)
Final Exam
🧭 After the course
🔎 What does "Marginal" mean - review MU, MC, MP, MB, etc.
✅ Section Agendas (Review Week)
🙋 Student Q&A (Review Week)
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✏ Returns to Scale
Returns to Scale
Excel
Google Sheets
Download:
Returns to Scale.xlsx
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