Lecture Notes

The lecture notes below cover topics in the same order as those listed on the calendar.

1-2 Introduction and a first application: the minimum wage debate and causal inference in economics (PDF)
3 Axioms of consumer preference and the theory of choice (PDF)
4 Theory of choice and individual demand (PDF)
5 The expenditure function: an application to the economics of food stamps (PDF)
6 Compensated and uncompensated demand functions with an application to Giffen goods (PDF)
7 Revealed preference and consumer welfare (PDF)
8 Applying consumer theory to competitive markets: the U.S. sugar program. (PDF)
9 Applied competitive analysis, a second example: real estate markets (PDF)
10 General equilibrium in a pure exchange economy (PDF)
11 International trade and the principle of comparative advantage (PDF)
12 The gains from international trade: aggregate evidence and distributional consequences (PDF)
13 Externalities, the Coase theorem and market remedies (PDF)
14 Uncertainty, expected utility theory and the market for risk (PDF)
15 Risk, safety regulation and the value of a statistical life (PDF)
16 Adverse selection, risk aversion and insurance markets (PDF)
17 Private information, adverse selection and market failure (PDF)
18 Education, human capital, and labor market signaling (PDF)