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Class Notes for Economics at University of Houston

ECON 2304 Lecture Notes - Lecture 18: Farmer Jack, Average Variable Cost, Average Cost
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find more resources at oneclass.com Chapter 13: The Costs of Production (Day 2) Why MPL Diminishes ● Farmer Jack’s output rises by a smaller and smaller amount for each additional worker. ...

Economics
ECON 2304
Tung Thanh Nguyen
ECON 2304 Lecture Notes - Lecture 17: W. M. Keck Observatory, Opportunity Cost, Production Function
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find more resources at oneclass.com Chapter 13: The Costs of Production (Day 1) In this chapter, look for the answers to these questions ● What is a production function? What is marginal prod...

Economics
ECON 2304
Tung Thanh Nguyen
ECON 2304 Lecture Notes - Lecture 22: Deadweight Loss, Price Discrimination, Demand Curve
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find more resources at oneclass.com Chapter 15: Monopoly (Day 2) Profit-Maximization ● Like a competitive firm, a monopolist maximizes profit by producing the quantity where M...

Economics
ECON 2304
Tung Thanh Nguyen
ECON 2304 Lecture Notes - Lecture 23: Demand Curve, Concentration Ratio, Oligopoly
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find more resources at oneclass.com Chapter 17: Oligopoly (Day 1) In this chapter, look for the answers to these questions ● What outcomes are possible under oligopoly? ● Why i...

Economics
ECON 2304
Tung Thanh Nguyen
ECON 2304 Lecture Notes - Lecture 24: Game Theory, Nash Equilibrium
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find more resources at oneclass.com Chapter 17: Oligopoly (Day 2) Collusion vs. Self-Interest ● Duopoly outcome with collusion: Each firm agrees to produce Q = 30, earns pro...

Economics
ECON 2304
Tung Thanh Nguyen
ECON 2304 Lecture Notes - Lecture 21: Demand Curve, Natural Monopoly, De Beers
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find more resources at oneclass.com Chapter 15: Monopoly (Day 1) In this chapter, look for the answers to these questions ● Why do monopolies arise? ● Why is MR < P for a monop...

Economics
ECON 2304
Tung Thanh Nguyen
ECON 2304 Lecture Notes - Lecture 25: Market Power, Perfect Competition, Production Function
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Chapter 18: The Markets for the Factors of Production In this chapter, look for the answers to these questions What determines a competitive firms demand for labor? How does labor supply depend on the wage? Wha...

Economics
ECON 2304
Tung Thanh Nguyen
ECON 2305 Lecture Notes - Lecture 12: Stagflation, Potential Output, Menu Cost

Chapter 20: Aggregate Demand & Aggregate Supply -Fluctuations aka business cycle. economic fluctuations correspond to changes in business conditions. They are not regular, and almost impossible to predict. - When real GD...

Economics
ECON 2305
Arpita Chakravorty
ECON 2305 Lecture Notes - Lecture 11: Demand Curve, Government Budget Balance, Capital Flight

Chapter 19: A Macroeconomic Theory of the Open Economy - The market for loanable funds, which coordinates the economy’s saving, investment, and flow of loanable funds abroad (called th...

Economics
ECON 2305
Arpita Chakravorty
ECON 2305 Lecture Notes - Lecture 10: Fisher Hypothesis, Neutrality Of Money, Seigniorage

Chapter 17 : Money Growth and Inflation -This increase in the overall level of prices is called inflation; which drives up prices. Economists measure the inflation rate as the percentage change in the consumer price index...

Economics
ECON 2305
Arpita Chakravorty
ECON 2304 Lecture Notes - Lecture 19: Efficiency Wage, Signalling Theory, Capital Accumulation
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Lecture 19 11/29/16  In this chapter: o Why is there a difference in wages?  Compensating Differentials o Compensating differential – difference in wages that arises to offset the nonmonet...

Economics
ECON 2304
Yewande Olapade
ECON 2304 Lecture Notes - Lecture 20: Income Distribution, Supplemental Security Income, Temporary Assistance For Needy Families
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Lecture 19 11/29/16  In this chapter: o Why does inequality and poverty exist?  Introduction o Equilibrium wages equal the value of workers’ marginal products o Differences in equilibrium wag...

Economics
ECON 2304
Yewande Olapade
ECON 2304 Lecture Notes - Lecture 18: Farmer Jack, Demand Curve, Marginal Product
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Lecture 18 11/22/16  Factors of Production and Factor Markets o Factors of production – inputs used to produce goods and services  Labor  70% of US national income paid ...

Economics
ECON 2304
Yewande Olapade
ECON 2304 Lecture Notes - Lecture 17: Clayton Antitrust Act, Sherman Antitrust Act, Predatory Pricing
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Lecture 17 11/17/16 • This chapter covers: o Possible outcomes under oligopoly o Why is it difficult for oligopoly firms to cooperate? o How anti-trust laws used to foster competition? • Measurin...

Economics
ECON 2304
Yewande Olapade
ECON 2304 Lecture Notes - Lecture 15: State Ownership, Marginal Cost, Deadweight Loss
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Lecture 15 11/10/16 • This chapter covers: o Why monopolies arise o Why MR < P for a monopolist o How do monopolies choose their P and Q? o How monopolies affect society’s well-being ...

Economics
ECON 2304
Yewande Olapade
Permachart - Marketing Reference Guide: Net Asset Value, Mutual Fund, U.S. Securities And Exchange Commission

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Mutual Funds WHAT IS A MUTUAL FUND? PURCHASING & REDEE...

Biology
BIOL2721
All Professors
Macroeconomics - Reference Guides

Take a look at the big picture. This chart covers national income accounting, inflation, consumption, economic growth, money supply, labor markets, monetary policy, international trade, supply side economics, and fiscal po...

Business and Political Economy Program
BPEP-UB 2
All Professors
Permachart - Marketing Reference Guide: Marginal Revenue, Profit Maximization, Marginal Cost

l e a r n • r e f e r e n c e • r e v i e w permacharts TM Microeconomics Microeconomics TYPES OF MARKETS ...

E-Business Marketing
ECN 102
All Professors
Permachart - Marketing Reference Guide: National Environmental Policy Act, Municipal Solid Waste, Criteria Air Contaminants

l e a r n • r e f e r e n c e • r e v i e w permacharts TM EEnvironmental Law ENVIRONMENTAL REGULATION NATIONAL ENVIRONMENTAL POL...

LAW
LAW 356
All Professors

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