What This Document Is
This study guide provides a focused review of key economic principles, specifically tailored for students in the Directed Group Study course (ECON 98) at the University of California, Berkeley. It appears to be a compilation of practice questions and conceptual explorations centered around intermediate microeconomic theory. The material is presented in a format designed to encourage in-depth understanding and application of economic models, rather than simple memorization.
Why This Document Matters
This resource is ideal for students seeking to solidify their grasp of core economic concepts and practice applying them to analytical problems. It’s particularly useful for those preparing for assessments, reviewing course material, or looking to strengthen their problem-solving skills in microeconomics. Students who benefit most will be actively engaged in ECON 98 and aiming for a comprehensive understanding of the subject matter. Access to the full guide will allow for a more thorough preparation and deeper understanding of the course material.
Topics Covered
* Externalities (positive and negative) and their impact on market outcomes
* Public Goods: characteristics, demand, and optimal provision
* Taxation: incidence and effects on market equilibrium
* Market Equilibrium: analysis of price and quantity determination
* Microeconomic Review: Substitutes, Nash Equilibrium, Market Structures
* Monopolistic Competition and Natural Monopolies
* Labor Markets and Wage Determination
What This Document Provides
* A series of analytical questions requiring detailed explanations.
* Opportunities to apply economic principles through graphical analysis.
* Problem sets designed to test understanding of concepts like deadweight loss and social optimality.
* Examples illustrating the application of economic theory to real-world scenarios.
* A framework for analyzing market structures and their implications.
* Practice applying concepts related to game theory and market equilibrium.
