ECON 1900 (ECON1900)

Chapter 5: Elasticities of Demand and Supply. Determinants of elasticity.

This in-class lecture on chapter 7 discusses the following topics: tax incidence, efficiency, burden of tax, excess burden of tax, incidence, inefficiency, elasticity, price ceilings, rent ceilings, black market, price floors, minimum wage, and quota. There is also a homework review for chapter 6 included at the end.

This lecture on chapter 8 discusses the following topics: price supports, subsidies, global markets (imports & exports), tariffs, and quotas.

Chapter 9's lecture discusses Externalities (pollution, education, and healthcare). The topics included are marginal social cost, marginal benefit, marginal cost, production externalities, consumer externalities, and marginal private benefit.