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"The language of public policy is increasingly the language of economics, and sophisticated policy formulation depends to an ever greater extent on an understanding of economic concepts."

Readings

Course Outline|

 

Introduction to the Basics

Ideal World

Real World

Introduction to the Basics

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Introduction

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Data Analysis

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Opportunity Cost

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Supply & Demand

The Ideal World of Microeconomics (Diagram of Section)

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Elasticity of Demand

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Households: Who are they?

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Households: Theory of Individual Choice

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Firms: Who are they?

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Firms: Theory of Firm's Choices

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Visible Hand of Government

The Real World of Microeconomics (Diagram of Section)

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Extensions of Theory of Individuals' Choice: Not quite so rational

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Extensions of Theory of Firms' Choices: Imperfect competition

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Inequality: How to divide the pie?

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Externalities and Public Goods" How to control pollution?