Analytical Methods - Folge 7: Microeconomics I
Update: 2019-04-19
Description
Microeconomics I - Microeconomics in the news; What is microeconomics about?; Microeconomics vs. macroeconomics; Microeconomics and lawyers; Individual decisions on the consumption of goods; Basic demand theory; Elasticities; Consumer choice; Opportunity costs; Supply and demand curves; Supply and demand; Competitive markets; Social welfare; Consumers' surplus and producers' surplus; Why competition?; Total surplus as a measure for social welfare?;
Government intervention; Price floor and price ceiling; Commodity taxation leading to a deadweight loss; Distributive justice; Lessons for lawmakers.
Government intervention; Price floor and price ceiling; Commodity taxation leading to a deadweight loss; Distributive justice; Lessons for lawmakers.
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