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Behavior and Choice: EC 102
Andrew Monaco
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Front Matter
1
Demand
1.1
Constructing demand
1.2
Individual demand to market demand
1.3
The Law of Demand and demand shifts
1.4
Consumer Surplus
1.5
Price elasticity of demand
1.6
Application: Price elasticity of demand and total revenue
1.7
Practice Problems
1.7.1
Constructing demand
1.7.2
Individual demand to market demand
1.7.3
The Law of Demand and demand shifts
1.7.4
Consumer surplus
1.7.5
Price elasticity of demand
1.7.6
Application: Price elasticity of demand and total revenue
1.8
Solutions to Chapter 1 Solved Exercises
2
Consumer Theory
2.1
What is rationality?
2.2
Preferences and rationality
2.3
Utility
2.4
Budget sets
2.5
Consumer optimal choice
2.6
Deriving demand
2.7
Practice Problems
2.7.1
Preferences and Rationality
2.7.2
Utility
2.7.3
Budget sets
2.7.4
Consumer optimal choice & 2.6 Deriving demand
3
Firm Theory and Supply
3.1
Production functions and marginal product
3.2
Firm cost
3.3
Optimal decision making: marginal analysis
3.4
Profit maximization
3.5
Practice Problems
3.5.1
Production functions and marginal product
3.5.2
Firm Cost
3.5.3
Optimal decision making: marginal analysis
3.5.4
Profit maximization
4
Intro to market structures
4.1
Market structures
4.2
Market power
4.3
Practice Problems
4.3.1
Market structures
4.3.2
Market power
5
Perfectly competitive markets
5.1
Profit maximization in perfect competition
5.2
Market power and price markups
5.3
Firm supply and market supply
5.4
Supply and Demand: IMPORTANT RECAP
5.5
Market outcomes and competitive equilibrium
5.6
Dynamic stability
5.7
Market efficiency
5.8
Application: Long-run profit in perfect competition
5.9
Practice Problems
5.9.1
Profit maximization in perfect competition
5.9.2
Market power and price markups
5.9.3
Firm supply and market supply
5.9.4
Supply and Demand - 3-PART FINAL EXAM QUESTION
5.9.5
Market outcomes and competitive equilibrium
5.9.6
Dynamic stability
5.9.7
Market efficiency
6
Applications of perfect competition
6.1
Price controls
6.2
Taxes and subsidies
6.3
Externalities
6.4
Policy prescriptions for externalities
6.5
Practice Problems
6.5.1
Price controls
6.5.2
Taxes and subsidies
6.5.3
Externalities
6.5.4
Policy prescriptions for externalities
7
Monopoly and monopolistic competition
7.1
Market power and marginal revenue
7.2
Profit maximization with market power: Monopoly
7.3
Welfare analysis
7.4
Measures of market power and
\(\epsilon_D\)
7.5
Monopolistic competition
7.6
Practice Problems
7.6.1
Market power and marginal revenue
7.6.2
Profit maximization with market power: Monopoly
7.6.3
Welfare analysis
7.6.4
Measures of market power
7.6.5
Monopolistic competition
8
Input markets, market power, and monopsony
8.1
Marginal analysis in input markets
8.2
Competitive input markets
8.3
Demand for labor
8.4
Monopsonistic input markets
8.5
Comparison: output markets versus input markets
8.6
Practice Problems
8.6.1
Marginal analysis in input markets
8.6.2
Monopsonistic input markets
8.6.3
Demand for labor
8.6.4
Monopsonistic input markets
8.6.5
Comparison: output markets versus input markets
9
Imperfect competition
9.1
HHI
9.2
Big framing question - collusion
9.3
Models of oligopoly and game theory
9.4
PD and analogies
9.5
repeated games
10
Multisided platforms
10.1
Introduction to multisided platforms
10.2
Features of multisided platforms
10.2.1
Interconnected demand
10.2.2
Network externalities
10.2.3
Pricing: money side versus subsidy side
10.2.4
Bonus: Two-sided platforms versus multi-sided platforms and the freemium model
10.3
Two-sided platforms: a theoretical model
10.3.1
Linear case (symmetric)
10.3.2
Linear case (asymmetric)
10.4
Platform price markups
10.4.1
Reviewing the price markup and Lerner Index
10.4.2
Elasticity and platform pricing: a conundrum?
10.4.3
An adjusted Lerner index for platforms
10.4.4
Pricing conundrum solved
Back Matter
Bibliography
Section
9.3
Models of oligopoly and game theory
Needs explicit explanation of (1) comparative statics (2) 3 levels
