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Economics 2

Economics 2 Lecture Notes
Spring 2006

Introduction

Scarcity and Choice

Dolan and Lindsey, Chapter 1

• Lecture 1: (1/9/06) - Using Graphs in Economics
• Lecture 2: (1/11/06) - Scarcity and Choice
• Lecture 3: (1/13/06) - Production Possibilities Frontier
• Lecture 4: (1/18/06) - Gains from Trade
• Lecture 5: (1/20/06) - Markets and Prices

Supply and Demand

Dolan and Lindsey, Chapter 2

• Lecture 6: (1/23/06) - Supply and Demand, Part 1
• Lecture 7: (1/25/06) - Supply and Demand, Part 2
• Lecture 8: (1/27/06) - Supply and Demand, Part 3
• Lecture 9: (1/30/06) - Government Price Controls

Demand

Elasticity of Demand

Dolan and Lindsey, Chapter 3

• Lecture 10: (2/3/06) - Price Elasticity of Demand
• Lecture 11: (2/6/06) - Applications of Elasticity, Part 1
• Lecture 12: (2/8/06) - Applications of Elasticity, Part 2

Consumer Behavior

Dolan and Lindsey, Chapter 5

• Lecture 13: (2/10/06) - Marginal Utility
• Lecture 14: (2/13/06) - Consumer Equilibrium
• Lecture 15: (2/15/06) - Consumer Choice

Theory of the Firm

Production and Costs

Dolan and Lindsey, Chapters 12 and 6

• Lecture 16: (2/17/06) - Firms in the Economy
• Lecture 17: (2/20/06) - Inputs and Output
• Lecture 18: (2/22/06) - Costs in the Short Run
• Lecture 19: (2/24/06) - Costs in the Long Run

Perfect Competition

Dolan and Lindsey, Chapter 7

• Lecture 20: (3/1/06) - Profit Maximization, Part 1
• Lecture 21: (3/3/06) - Profit Maximization, Part 2
• Lecture 22: (3/13/06) - Perfect Competition in the Short Run
• Lecture 23: (3/15/06) - Perfect Competition in the Long Run

Monopoly

Dolan and Lindsey, Chapter 8

• Lecture 24: (3/17/06) - Monopoly

Imperfect Competition

Dolan and Lindsey, Chapter 9

• Lecture 25: (3/20/06) - Monopolistic Competition
• Lecture 26: (3/22/06) - Oligopoly

Resource Markets

Dolan and Lindsey, Chapters 10 and 11

• Lecture 27: (3/24/06) - The Demand for a Resource
• Lecture 28: (3/27/06) - The Labor Market
• Lecture 29: (3/31/06) - The Market for Capital
• Lecture 30: (4/3/06) - Natural Resources

Information and Uncertainty

Dolan and Lindsey, Chapter 13

• Lecture 31: (4/5/06) - Imperfect Information
• Lecture 32: (4/7/06) - Auctions

Microeconomic Policy

Market Failure

Dolan and Lindsey, Chapters 15, 16, and 17

• Lecture 33: (4/10/06) - Public Choice and Public Goods
• Lecture 34: (4/12/06) - Regulation and Antitrust
• Lecture 35: (4/14/06) - Externalities
• Lecture 36: (4/17/06) - Environmental Policy

Poverty and Welfare

Dolan and Lindsey, Chapter 19

• Lecture 37: (4/21/06) - Poverty in America

International Trade

Dolan and Lindsey, Chapter 20

• Lecture 38: (4/24/06) - Comparative Advantage and Trade
• Lecture 39: (4/26/06) - Trade Policy

Review

• Lecture 40: (4/28/06) - Review for the Final Exam

David A. Latzko Business and Economics Division Pennsylvania State University, York Campus office: 13 Main Classroom Building voice: (717) 771-4115 fax: (717) 771-4062 e-mail: web: www.yk.psu.edu/~dxl31