Microeconomic Theory and Public Policy

Lecture Notes

LEC #	TOPICS	FILES
1	Introduction and a first application: The minimum wage debate	Lecture 1 Notes (PDF)
2	Causal inference in economics, with an application to the minimum wage debate	Lecture 2 Notes (PDF)
3	Axioms of consumer preference and the theory of choice Math tools	Lecture 3 Notes (PDF) Math Tools for 14.03 / 14.003 (PDF)
4	Utility maximization	Lecture 4 Notes (PDF)
5	The expenditure function, with an application to gift giving	Lecture 5 Notes (PDF)
6	Demand functions: Income effects, substitution effects, and labor supply	Lecture 6 Notes (PDF)
7	Linking compensated and uncompensated demand: Theory and evidence	Lecture 7 Notes (PDF)
8	Parts 1 & 2: Applying consumer theory to competitive markets-The United States sugar program	Lecture 8 Part 1 Notes (PDF) Lecture 8 Part 2 Notes (PDF) Lecture 8 Notes for Class Prep (PDF)
9	Applied competitive analysis: A second example	Lecture 9 Notes (PDF)
10	General equilibrium in a pure exchange economy	Lecture 10 Notes (PDF)
11	Applying the GE framework to consumer markets: Fishing in the State of Kerala, India Lecture 11 example: Taxation versus lump sum transfers in the Edgeworth box	Lecture 11 Notes (PDF) Lecture 11 Example Notes (PDF)
12	International trade and the principle of comparative advantage	Lecture 12 Notes (PDF)
13	The gains from international trade: Empirical evidence using the method of instrumental variables	Lecture 13 Notes (PDF)
14	Why is free trade controversial? Theory and evidence	Lecture 14 Notes (PDF)
15	Does trade raise national income? The method of Instrumental Variables	No notes available.
16	Uncertainty, risk preference, and expected utilit theory	Lecture 16 Notes (PDF)
17	The market for risk	Lecture 17 Notes (PDF)
18	Two applications of risk and safety regulation: Airplane seats for infants and the value of a statistical life	Lecture 18 Notes (PDF)
19	Causal inference using regression discontinuity design	Lecture 19 Notes (PDF)
20	Education, human capital, and labor market signaling	Lecture 20 Notes (PDF)
21	Signaling and statistical discrimination: An application to “Ban the Box” legislation	Lecture 21 Notes (PDF)
22	Private information, adverse selection and market failure	Lecture 22 Notes (PDF)
23	Adverse selection, risk aversion, and insurance markets	Lecture 23 Notes (PDF)