Introduction to Economic Analysis

Table of Contents

• Licensing Information

• Chapter 1: What Is Economics?

  • Normative and Positive Theories
  • Opportunity Cost
  • Economic Reasoning and Analysis

• Chapter 2: Supply and Demand

  • Demand and Consumer Surplus
  • Supply and Profit
  • Market Demand and Supply
  • Equilibrium
  • Changes in Demand and Supply

• Chapter 3: Quantification

  • Elasticity
  • Supply and Demand Changes

• Chapter 4: The U.S. Economy

  • Basic Demographics
  • Education
  • Households and Consumption
  • Production
  • Government
  • Trade
  • Fluctuations

• Chapter 5: Government Interventions

  • Effects of Taxes
  • Incidence of Taxes
  • Excess Burden of Taxation
  • Price Floors and Ceilings
  • The Politics of Price Controls
  • Price Supports
  • Quantity Restrictions and Quotas

• Chapter 6: Trade

  • Production Possibilities Frontier
  • Comparative and Absolute Advantage
  • Factors of Production
  • International Trade

• Chapter 7: Externalities

  • External Effects
  • Pigouvian Taxes
  • Quotas
  • Tradable Permits and Auctions
  • Coasian Bargaining
  • Fishing and Extinction

• Chapter 8: Public Goods

  • Free Riders
  • Provision With Taxation
  • Local Public Goods

• Chapter 9: Producer Theory: Costs

  • Types of Firms
  • Production Functions
  • Profit Maximization
  • The Shadow Value
  • Input Demand
  • Myriad Costs

• Chapter 10: Producer Theory: Dynamics

  • Reactions of Competitive Firms
  • Economies of Scale and Scope
  • Dynamics With Constant Costs
  • General Long-run Dynamics

• Chapter 11: Investment

  • Present Value
  • Investment
  • Investment Under Uncertainty
  • Resource Extraction
  • A Time to Harvest
  • Collectibles
  • Summer Wheat

• Chapter 12: Consumer Theory

  • Utility Maximization
  • Budget or Feasible Set
  • Isoquants
  • Examples
  • Substitution Effects
  • Income Effects
  • Mathematical Cleanup

• Chapter 13: Applied Consumer Theory

  • Labor Supply
  • Urban Real Estate Prices
  • Dynamic Choice
  • Risk Aversion
  • Search

• Chapter 14: General Equilibrium

  • Edgeworth Box
  • Equilibrium With Price System
  • General Equilibrium

• Chapter 15: Monopoly

  • Sources of Monopoly
  • Basic Analysis
  • Effect of Taxes
  • Price Discrimination
  • Welfare Effects
  • Natural Monopoly
  • Peak-load Pricing

• Chapter 16: Games and Strategic Behavior

  • Matrix Games
  • Nash Equilibrium
  • Mixed Strategies
  • Examples
  • Subgame Perfection
  • Supergames

• Chapter 17: Imperfect Competition

  • Cournot Oligopoly
  • Cournot Industry Performance
  • Hotelling Differentiation
  • The Circle Model

• Chapter 18: Information

  • Market for Lemons
  • Myerson-Satterthwaite Theorem
  • Signaling
  • Search and Price Dispersion

• Chapter 19: Agency Theory

  • Principals and Agents
  • Cost of Providing Incentives
  • Multi-tasking
  • Multi-tasking without Homogeneity

• Chapter 20: Auctions

  • English Auction
  • Sealed-bid Auction
  • Dutch Auction
  • Vickrey Auction
  • The Winner’s Curse and Linkage
  • Auction Design

• Chapter 21: Antitrust

  • Chapter Introduction
  • Clayton Act
  • Price Fixing
  • Mergers