Inhoudsopgave
Onze benaderingen .......................................................................................................................................... 5
1. Demand and supply analysis ........................................................................................................................ 5
A Quick overview .......................................................................................................................................... 5
Back-of-the-envelope calculations ................................................................................................................ 6
The identification problem ............................................................................................................................ 6
The effect of demand and supply shocks on market equilibrium: comparative statics .................................... 7
Multiple markets: general equilibrium .......................................................................................................... 7
The theory of consumer demand ..................................................................................................................... 7
3. Consumer preferences and the concept of utility ......................................................................................... 7
Preferences and utility: a quick review .......................................................................................................... 7
Quasi-linear utility ........................................................................................................................................ 8
Critique of the assumption of ‘selfish’ behavior: Other-regarding preferences ............................................... 8
4. Consumer choice .......................................................................................................................................... 8
Consumer choice: a quick review .................................................................................................................. 8
Simple applications of consumer choice ........................................................................................................ 9
Inkomens supplement vs. Voucher enkel vr goed x .................................................................................. 9
An application to intertemporal choice: borrowing and lending ..................................................................... 9
Uitbreiding ................................................................................................................................................. 10
Bounded rationality .................................................................................................................................... 11
5. The theory of demand ................................................................................................................................ 12
1. Individual demand functions: a quick review ........................................................................................... 12
2. Income and substitution effects .............................................................................................................. 13
3. Consumer surplus ................................................................................................................................... 13
4. Aggregate demand and network externalities ......................................................................................... 14
5. Consumer demand and labor supply ....................................................................................................... 14
6. The characteristics approach to consumer demand ................................................................................. 14
6. Inputs and production functions ................................................................................................................ 16
1. Production functions ............................................................................................................................... 16
2. Input substitution and isoquants ............................................................................................................. 16
3. Returns to scale (schaalvoordelen) .......................................................................................................... 17
4. Technological progress ........................................................................................................................... 18
7. Costs and cost minimization ....................................................................................................................... 18
1. Definition of costs and profit ................................................................................................................... 18
, 2. Cost minimization ................................................................................................................................... 19
3. Input demand functions .......................................................................................................................... 19
4. Short-run cost minimization .................................................................................................................... 20
8. Cost curves ................................................................................................................................................. 20
1. Cost functions ......................................................................................................................................... 20
2. Average and marginal cost curves........................................................................................................... 21
3. Economies of scale.................................................................................................................................. 22
4. Extensions .............................................................................................................................................. 23
5. Short-run cost functions .......................................................................................................................... 24
6. Relation between short-run and long-run cost functions.......................................................................... 24
9. Perfect competition.................................................................................................................................... 25
1. Profit maximization by competitive firms ................................................................................................ 25
2. Short-run equilibrium.............................................................................................................................. 25
3. Long-run equilibrium .............................................................................................................................. 26
10. Applications of government intervention ................................................................................................. 28
1. Indirect taxes and subsidies .................................................................................................................... 28
2. Price ceilings and floors .......................................................................................................................... 29
3. Quotas ................................................................................................................................................... 29
11. Monopoly and monopsony....................................................................................................................... 30
1. Toetredingsbelemmeringen .................................................................................................................... 30
2. Winstmaximalisatie ................................................................................................................................ 30
3. Inverse elasticiteit pricing rule (IEPR) ....................................................................................................... 31
4. Pricing in practice: Markup pricing .......................................................................................................... 32
5. Multi-plant monopoly ............................................................................................................................. 33
6. The welfare cost ..................................................................................................................................... 33
7. Monopsony ............................................................................................................................................ 34
12. Capturing surplus ..................................................................................................................................... 35
1. Prijsdiscriminatie .................................................................................................................................... 35
2. Koppelverkoop (Tying & Bundling) .......................................................................................................... 39
3. Advertising ............................................................................................................................................. 39
13. Market structure and competition ........................................................................................................... 39
1. Introduction: Market structures .............................................................................................................. 40
2. Oligopoly with homogeneous products ................................................................................................... 40
3. Dominante firma model .......................................................................................................................... 43
4. Oligopoly with horizontally differentiated products ............................................................................ 43
5. Monopolistische concurrentie ............................................................................................................ 43
,
, Micro-economie
Mixed economy = vrije markt (kapitalisme) + centraal geleide (socialisme)
Problemen:
- Klimaat
- Extremere inkomensverdeling
- Armoede
p.10 graf: verticale as verdubbeling (nt evenredig)
China india later: onder koloniaal bewind
Plotse exp groei sinds 1700
Kapitalistische revolutie: ondernemingen eigen controle + belangrijkste eenheid v/
productie
o Technologische revolutie
o Specialisatie werktaken efficientie
p.11 graf: vb1 Zuid-Korea stijgend succes: investeren school & internationaal
vb2 Botswana (rijk i. diamanten) & Nigeria (rijk i. honing) ?verschil: kwaliteit
instellingen
vb3 Communisme: W dui (kap) doet beter
vb4 Sovjet&RUS:
Kapitalisme gevoelig: corruptie, marktfalingen, etc.
Klimaat
Zonder interventie in vrije markt
Vb1 Global warming
P14 graf: Fosiele brandstoffen uitlaat rechts & concentratie CO2 links (stijgt)
Vb2 Pandemie
P15 graf: piek lager en uitgesteld mits overheidsmaatregelen
gevaar? Zwaargetroffen economie, zware gevolgen?
- Zelfstandigen (horeca, retail, amusement)
- Laaggeschoolden (bouw, vervoer, industrie)
Ongelijkheid
Thomas Piketty: % v/ 0,1% rijkste in bezit van alle inkomen
Dalend
Hooggeschoolden: voordeel in onze economie
Meetbaarheid overheid
Overheidsbeleid: onderwijs, minimuloon, soc zekerh
oorzaak: vermogen (rente) + arbeid (hooggeschlaaggesch)
Onze benaderingen .......................................................................................................................................... 5
1. Demand and supply analysis ........................................................................................................................ 5
A Quick overview .......................................................................................................................................... 5
Back-of-the-envelope calculations ................................................................................................................ 6
The identification problem ............................................................................................................................ 6
The effect of demand and supply shocks on market equilibrium: comparative statics .................................... 7
Multiple markets: general equilibrium .......................................................................................................... 7
The theory of consumer demand ..................................................................................................................... 7
3. Consumer preferences and the concept of utility ......................................................................................... 7
Preferences and utility: a quick review .......................................................................................................... 7
Quasi-linear utility ........................................................................................................................................ 8
Critique of the assumption of ‘selfish’ behavior: Other-regarding preferences ............................................... 8
4. Consumer choice .......................................................................................................................................... 8
Consumer choice: a quick review .................................................................................................................. 8
Simple applications of consumer choice ........................................................................................................ 9
Inkomens supplement vs. Voucher enkel vr goed x .................................................................................. 9
An application to intertemporal choice: borrowing and lending ..................................................................... 9
Uitbreiding ................................................................................................................................................. 10
Bounded rationality .................................................................................................................................... 11
5. The theory of demand ................................................................................................................................ 12
1. Individual demand functions: a quick review ........................................................................................... 12
2. Income and substitution effects .............................................................................................................. 13
3. Consumer surplus ................................................................................................................................... 13
4. Aggregate demand and network externalities ......................................................................................... 14
5. Consumer demand and labor supply ....................................................................................................... 14
6. The characteristics approach to consumer demand ................................................................................. 14
6. Inputs and production functions ................................................................................................................ 16
1. Production functions ............................................................................................................................... 16
2. Input substitution and isoquants ............................................................................................................. 16
3. Returns to scale (schaalvoordelen) .......................................................................................................... 17
4. Technological progress ........................................................................................................................... 18
7. Costs and cost minimization ....................................................................................................................... 18
1. Definition of costs and profit ................................................................................................................... 18
, 2. Cost minimization ................................................................................................................................... 19
3. Input demand functions .......................................................................................................................... 19
4. Short-run cost minimization .................................................................................................................... 20
8. Cost curves ................................................................................................................................................. 20
1. Cost functions ......................................................................................................................................... 20
2. Average and marginal cost curves........................................................................................................... 21
3. Economies of scale.................................................................................................................................. 22
4. Extensions .............................................................................................................................................. 23
5. Short-run cost functions .......................................................................................................................... 24
6. Relation between short-run and long-run cost functions.......................................................................... 24
9. Perfect competition.................................................................................................................................... 25
1. Profit maximization by competitive firms ................................................................................................ 25
2. Short-run equilibrium.............................................................................................................................. 25
3. Long-run equilibrium .............................................................................................................................. 26
10. Applications of government intervention ................................................................................................. 28
1. Indirect taxes and subsidies .................................................................................................................... 28
2. Price ceilings and floors .......................................................................................................................... 29
3. Quotas ................................................................................................................................................... 29
11. Monopoly and monopsony....................................................................................................................... 30
1. Toetredingsbelemmeringen .................................................................................................................... 30
2. Winstmaximalisatie ................................................................................................................................ 30
3. Inverse elasticiteit pricing rule (IEPR) ....................................................................................................... 31
4. Pricing in practice: Markup pricing .......................................................................................................... 32
5. Multi-plant monopoly ............................................................................................................................. 33
6. The welfare cost ..................................................................................................................................... 33
7. Monopsony ............................................................................................................................................ 34
12. Capturing surplus ..................................................................................................................................... 35
1. Prijsdiscriminatie .................................................................................................................................... 35
2. Koppelverkoop (Tying & Bundling) .......................................................................................................... 39
3. Advertising ............................................................................................................................................. 39
13. Market structure and competition ........................................................................................................... 39
1. Introduction: Market structures .............................................................................................................. 40
2. Oligopoly with homogeneous products ................................................................................................... 40
3. Dominante firma model .......................................................................................................................... 43
4. Oligopoly with horizontally differentiated products ............................................................................ 43
5. Monopolistische concurrentie ............................................................................................................ 43
,
, Micro-economie
Mixed economy = vrije markt (kapitalisme) + centraal geleide (socialisme)
Problemen:
- Klimaat
- Extremere inkomensverdeling
- Armoede
p.10 graf: verticale as verdubbeling (nt evenredig)
China india later: onder koloniaal bewind
Plotse exp groei sinds 1700
Kapitalistische revolutie: ondernemingen eigen controle + belangrijkste eenheid v/
productie
o Technologische revolutie
o Specialisatie werktaken efficientie
p.11 graf: vb1 Zuid-Korea stijgend succes: investeren school & internationaal
vb2 Botswana (rijk i. diamanten) & Nigeria (rijk i. honing) ?verschil: kwaliteit
instellingen
vb3 Communisme: W dui (kap) doet beter
vb4 Sovjet&RUS:
Kapitalisme gevoelig: corruptie, marktfalingen, etc.
Klimaat
Zonder interventie in vrije markt
Vb1 Global warming
P14 graf: Fosiele brandstoffen uitlaat rechts & concentratie CO2 links (stijgt)
Vb2 Pandemie
P15 graf: piek lager en uitgesteld mits overheidsmaatregelen
gevaar? Zwaargetroffen economie, zware gevolgen?
- Zelfstandigen (horeca, retail, amusement)
- Laaggeschoolden (bouw, vervoer, industrie)
Ongelijkheid
Thomas Piketty: % v/ 0,1% rijkste in bezit van alle inkomen
Dalend
Hooggeschoolden: voordeel in onze economie
Meetbaarheid overheid
Overheidsbeleid: onderwijs, minimuloon, soc zekerh
oorzaak: vermogen (rente) + arbeid (hooggeschlaaggesch)
