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Valuation 2 and 3: Demand and welfare theory What is so special about environmental goods? Theory of consumer demand for market goods Welfare effects of.
1 Chapter 16 General Equilibrium Theory 16.1 General Equilibrium Analysis: Two Markets 16.2 General Equilibrium Analysis: Many Markets 16.3 General Equilibrium.
Applications of the AD-AS Model Lecture 25 – academic year 2014/15 Introduction to Economics Fabio Landini.
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Eco 344 International Economic Relations 1. Instructor 2.
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Chapter Nine Buying and Selling. Endowments u The list of resource units with which a consumer starts is his endowment. u A consumer’s endowment will.
WHY INVEST IN TREASURY BILLS IF THEIR INTEREST RATES ARE SO LOW? In February 2010, Moody’s Investors Service hinted that large budget deficits could affect.
Chapter 2 Budget Constraint. 2 Consumption Theory Economists assume that consumers choose the best bundle of goods they can afford. In this chapter, we.
