|Course:||P A 393K - Applied Microeconomics for Policy Analysis
(previously Political Economy I)
|Day & Time:||Thursdays, 6:00 PM - 9:00 PM|
|Waitlist Information:||For LBJ Students: UT Waitlist Information|
Description: The subjects covered include the economic benefits and problems in several types of economic organization of societies from central control to capitalism. The benefits, recent problems and legislation associated with the corporate organization of businesses will be discussed. The microeconomic analyses of consumer choice, firm profit maximization under competitive and monopolistic competition, the demand and supply of factors of production, and measures of consumer welfare will be presented. Concepts relating to international trade including comparative advantage, terms of trade and exchange rates will be discussed.
Throughout the course economic issues facing government legislators and administrators will be interwoven into the lectures including the politics and economic effects of agricultural price supports and payments to refrain from farming, minimum wages, limits to job entry, and sales taxes. Price discrimination will be described with an analysis of asymmetric information in the commercial loan market.
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