PAI 723 Lectures

Fall 2020


    As the semester progresses, a link to each lecture will be added to this page.  The link will include a summary of the main points from that day’s lecture.

Introduction: Microeconomics and Markets

Lecture #1 — 8/24/2020 — What is Microeconomics?
Lecture #2 — 8/26/2020 — Key Concepts in Economics
Lecture #3 — 8/31/2020— The Basics of Supply and Demand

Applications of Supply and Demand

Lecture #4 — 9/2/2020 — Measuring Welfare
Lecture #5 — 9/5/2020 — Elasticity
Lecture #6 — 9/7/2020 — Taxes
Lecture #7 — 9/9/2020 — Taxes


Consumer Theory — Utility and the Derivation of the Demand Curve

Lecture #8 — 9/14/2020 — Consumer Behavior: An Introduction to Utility
Lecture #9 — 9/16/2020 — Consumer Behavior: Maximizing Utility
Lecture #10 — 9/21/2020 — Applications of Utility Maximization
Lecture #11 — 9/23/2020 — Case #1: Rice Imports in Pacifica
Lecture #12 — 9/28/2020 — Applications of Utility Maximization


Producer Theory –- Production, Costs, and the Derivation of the Supply Curve

Lecture #13 — 9/30/2020 — Production
Lecture #14 — 10/5/2020 — Costs of Production
Lecture #15 — 10/7/2020 — Profit Maximization
Lecture #16 — 10/12/2020 — Long-Run Equilibrium


Putting It All Together –- Perfect Competition

Lecture #17 — 10/14/2020— Perfect Competition and Economic Welfare


Market Power

Lecture #18 — 10/19/2020— Monopoly
Lecture #19 — 10/21/20120 — Regulating Monopolies


Market Failures and the Role of the Government

Lecture #20 — 10/26/2020 — Externalities
10/28/2020 — Review for Quiz #2
Lecture #21 — 11/2/2020 — Public Goods


Cost-Benefit Analysis

Lecture #22 — 11/4/2020 — Cost-Benefit Analysis
Lecture #23 — 11/9/2020 — Case #2: “Profit” Maximization for Non-Profits

Case #2 tables

Lecture #24 — 11/11/2020 — Cost-Benefit Analysis
Discounting example from class

Lecture #25 — 11/16/2020— Cost-Benefit Analysis
Pentagon discounting example

Lecture #26 — 11/18/2020 — Case #3: Benefit-Cost Analysis for a Composting Facility
Case #3 calculations