Introductory Microeconomics for Public Policy

1. Intro, Supply and Demand
   • GLS, Chapters 1 and 2, skimming 2.5
2. Supply and Demand and Policy
   • In class problem
   • GLS, Chapter 3, but not 3.4 or 3.5
   • Priceline and consumer surplus
     • See also Priceline
     • And estimates of consumer surplus from Uber: economist and layperson versions
3. Elasticity
   • GLS, Section 2.5
   • Consider elasticity of demand when analyzing this policy
4. Consumer Behavior
   • In class problem
   • GLS, Chapter 4
5. Individual and Market Demand
   • GLS, Chapter 5. Omit income Engel curves from 5.1, and inferior goods and Giffen goods at the end of 5.3.
6. Producer Behavior
   • In class problem
   • GLS, Chapter 6. Omit technological change.
7. Midterm
8. Costs
   • GLS, Chapter 7
9. Supply in a Competitive Market
   • GLS, Chapter 8, but not 8.5
10. Market Power and Monopoly
    • In class problem
    • GLS, Chapter 9; omit Lerner Index
    • For those interested in price fixing, an example
11. Externalities and Public Goods
    • GLS, Chapter 16, sections 16.1 and 16.2 (pages 643-665); Gruber, Chapter 7, pages 184-189; Rosen and Gayer, Chapter 4, pages 54-70
    • Two podcasts on public goods
      • Lighthouses, Autopsies, and the Federal Budget, [link]
      • How to Stop an Asteroid, [link]
12. Tax Incidence
    • Gruber, Chapter 19, pages 557-586
    • limited coverage of 19.4
    • great policy example of sugary drinks
    • In class problem
13. Social Insurance
    • Gruber, Chapter 12, pages 321-351
14. Exam 2
    • Notes, as needed