Irrational Behavior and Economic Theory Author(s): Gary S. Becker Reviewed work(s): Source: Journal of Political Economy, Vol. 70, No. 1 (Feb., 1962), pp. 1-13 Published…

Chapter 5 Income and Substitution Effects Nicholson and Snyder, Copyright ©2008 by Thomson South-Western. All rights reserved. Demand Functions • The optimal levels of…

Chapter 8 A Two-Period Model: The Consumption-Savings Decision and Credit Markets Teaching Goals This chapter introduces the concept of intertemporal choice. Intertemporal…

Introduction Economics – Branches: Micro- and Macro-Economics, from micro- to managerial economics or economics of firm. Key Concepts: Demand and Supply sides of economic…

4 - 1 CHAPTER 4 LECTURE - INDIVIDUAL AND MARKET DEMAND Deriving a Demand Curve Using the graph below we can derive a demand curve. Remember along a demand curve, what is…

Preferences and Utility (Chapters 3, 4) 1 1. 1a. Preferences A single consumption good Consider a world with a single consumption good. A corresponding consumption bundle…

CHAPTER Consumer Behavior OUTLINE 3.1 3.2 3.3 3.4 3.5 Consumer Preferences Budget Constraints Consumer Choice Revealed Preference Marginal Utility and Consumer Choice 3 Copyright…

CHAPTER 19 Government Redistribution Programs 354 CHAPTER 19 Government Redistribution Programs Chapter 18 Illustrated that there are a number motivations for government…

Portfolio Theory Himanshu Puri Faculty DIAS HARRY MARKOWITZ MODEL • The portfolio theory developed deals with the selection of portfolio that maximizes expected returns…

1. IMT-20: MANAGERIAL ECONOMICSPART – AQ1. Distinguish between the principles of marginalism andincrementalism with the help of examples.Ans. Marginalism is the study of…