14.03 / 14.003 Microeconomic Theory and Public Policy, Fall 2010
Microeconomic Theory and Public Policy
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This class presents microeconomic theory and applications of consumer and producer behavior and welfare analysis at an intermediate level. In addition to standard competitive models, we study deviations due to externalities, asymmetric information, and imperfect rationality. We apply this material to policy debates including minimum wage regulations, food stamp provision, trade protection, educational credentials, health insurance markets, and real estate markets.
consumer behavior, producer behavior, welfare analysis, measurement of productivity, rationing, insurance markets, intertemporal behavior
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