|Course:||P A 393K - Applied Microeconomics for Policy Analysis
(previously Political Economy I)
|Day & Time:||Thursdays, 9:00 AM - 12:00 PM|
|Waitlist Information:||For LBJ Students: UT Waitlist Information|
Description: The subjects of this course will include the choices made in a society for the allocation of scarce resources to productive processes and the distribution of the goods and services. Theories for making these choices that depend on relative prices will be explained. Aggregates and the device of using the "typical" firm or individual will be used. The microeconomic topics of consumer choice, typical firm profit maximization, competitive and monopolistic, or monopsonistic markets for outputs and inputs, and measures of welfare will be discussed. Since this microeconomic analysis is done mostly from the standpoint of a snapshot in time (static equilibrium analysis) an additional area of making choices over time will be addressed briefly. Throughout the course selected microeconomic issues facing government legislators and administrators will be interwoven into the lectures.
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