Here are the worksheets for weeks 5 and 6, respectively.
Also tagged Academic Departments, Arts and Entertainment, Directories, Environmental Economics, Market for Lemons, Social Sciences, United StatesImage via Wikipedia
In this lecture we introduce game theory, following recap over the risk and insurance parts of the module we looked at last week. Game theory is the study of strategic interaction. In this lecture we looked at the history of game theory and the components of any game: players, strategies, and payoffs. We [...]
Also tagged Game, Game theory, Institutes, Nash, Nash Equilibrium, Prisoner's dilemma, Social SciencesImage via Wikipedia
In this lecture we looked at the economics of preferential liberalisation, the economics of monetary union, EMU, the costs and benefits of EMU, and took a trip to Ancient Rome. Click here for the lecture notes, and the recording of the lecture is below the fold.
Also tagged Ancient Rome, Cost-benefit analysis, Economic and monetary union, Social SciencesImage by BottleLeaf via Flickr
In this lecture we looked at the Market for Lemons, based on Akerlof’s 1970 paper, which you can get here. The basic role of information in market failure and in particular with regard to uncertainty of quality made a bit of an impact. I heard some awful chat up lines, and [...]
Also tagged Lemon, Market for LemonsIn lectures today a student asked me by text message which economics book they should read to get acquainted with economics. I mentioned that this is, in my opinion, the best economics book ever written, by Robert Heilbroner. Buy it, read it, and get smarter.
“The Worldly Philosophers: The Lives, Times And Ideas Of The Great [...]
Also tagged Michael Lewis, Robert Heilbroner, Robert L. Heilbroner, Social Science, Text messaging, United States, Worldly PhilosophersI’ve been going to lots of conferences recently, and I’ve been asked to chair a few sessions here and there. Some have gone well, others have been disasters, but I think after doing a few and seeing a lot in a short space of time, I’ve come up with a nice list of things to [...]
Also tagged ABC, American Broadcasting Company, economy, Fiction, Nobel Prize, Paul KrugmanThe theory of production of commodities by means of commodities has a long history in economics. From the earliest recorded thinking about how households manage their inputs and outputs through to the modern day, the concern with how and why and what people produce in order to satisfy their needs and desires has been at [...]
Also tagged Indifference curve, Marginal product, Politics, Production function, Productivity, Returns to scaleOctober is going to be a busy, travel-filled month. Here’s the list of conferences and workshops I’m attending or ranting at in October. November looks kind of the same, already. Having typed up this list, I’m quite excited by all of these meetings. Click the links to see why.
October 3, Irish Society of New Economists [...]
In the last lecture we looked at the theory of choice. Today its all about demand. Click below for lecture notes, which you can print using the print icon below.
Also tagged Budget constraint, Ceteris Paribus, Demand Curve, Indifference curve, Price, Price of petroleum, Supply and demandHello there, EC4004 students. This week we are all about the Law of Demand, Supply, and Elasticity. Get these wikipedia entries into you to prime yourselves for the lectures on Thursday and Friday.
Also, decide whether you like bubbles. That was meant to be cryptic, and you’ll find out how cryptic on Thursday. No more unvolunteering, [...]