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Decks in this class (21)
1-2: Preferences, Constraints and Choice
Bundle,
Fundamental concept of choice theory,
Preference
17
cards
3: Demand
Income expansion path,
Engel curve,
Normal good
24
cards
4: Labour
Labour supply curve
1
cards
5: Choice under Uncertainty
Goal,
Degree of risk aversion,
Absolute risk aversion
17
cards
6: General Equilibrium in an Exchange Economy
Monotonic preferences,
Mutually beneficial trade,
Pareto efficiency
19
cards
7: Producer Theory
Isoquant shapes for returns of scale,
Technical rate of substitution,
Constant returns to scale
16
cards
8: Perfect Competition and Partial Equilibrium
Long run,
Free entry and exit assumption of...,
Why does a profit maximising firm...
16
cards
10: Market Power and Monopoly
Why does a monopolist never choos...,
Marginal revenue and one price,
Ped and mr
11
cards
11: Externalities
Finding efficient amount,
Finding actual amount,
Who continues to pollute despite ...
11
cards
12: Game Theory
Repeated games,
Stationary game,
Pure strategy
8
cards
13: Oligopoly Theory
Finding competitive output,
Best response to bertrand model s...,
Nash equilibrium in hotelling
4
cards
Topic 1-2: Preferences, Constraints and Choice
Consumer choice model,
Key idea of consumer choice,
Bundle
14
cards
Topic 3: Demand
Income expansion path,
Engel curve,
Normal good
14
cards
Topic 5: Choice under Uncertainty
Expected utility model,
Goal of choice under uncertainty,
Lotteries
17
cards
Topic 6: General Equilibrium in an Exchange Economy
Tradeoff we face with models,
Issue with the general equilibriu...,
Edgeworth box
18
cards
Topic 7: Producer Choice
Production possibility function,
Production possibility set,
Diminishing marginal product
7
cards
Topic 8: Partial Equilibrium and Perfect Competition
Basis of this section,
Conditions of perfectly competiti...,
Consumer surplus
13
cards
Topic 10: Monopoly and Market Power
Monopoly,
Monopoly and ftwe,
Monopoly in the edgeworth box
9
cards
Topic 11: Externalities
Failure of ftwe,
Private decision,
Social efficiency
11
cards
Topic 12: Game Theory
Rationality,
Game theory,
Strategic interaction
11
cards
Topic 13: Oligopoly
Hotelling,
Best response in hotelling model,
Cournot model
5
cards
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ECON100A
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