Presentation paper:
I want you to read an introductory academic economic article and connect the content of the article to concepts, models or topics we covered in the micro class.
Please choose ONE of the following 4 articles you are interested in from the Journal of Economic Perspectives:
https://www.aeaweb.org/articles?id=10.1257/jep.27.4.187; https://www.aeaweb.org/articles?id=10.1257/089533003772034925; https://www.aeaweb.org/articles?id=10.1257/jep.27.3.21; https://www.aeaweb.org/articles?id=10.1257/jep.27.3.3
What you should do:
I want you to write a paper (about a 1000 words) and to present it to me in a communicative way via zoom as a presentation.
Summarize the important parts of the paper in your own words.
Tell me, why you picked the article.
Explain, how this article connects to concepts, models or topics we covered in the micro class. Which concepts were used in the paper and how were they applied?
Explain, what weaknesses or problems you see with the research approach or methodology and what the next research steps could be to make the research even better.
Topics, concepts and models covered in Micro class:
Supply and Demand:
– Deriving and Shifting Demand and Supply (Alfred Marshall,..)
– Efficiency of markets (Vilfredo Pareto, Adam Smith,..)
– Elasticities
– Government interventions, taxes (Arnold Harberger deadweight loss,..)
– Externalities (Pigou, Coase theorem..)
Demand in more details:
– Consumer theory (Rational choice vs behavioral economics, Preferences, Utility, budget constraint, non-functional demand,..)
Supply in more details:
– Costs (Profit and revenue, production function,..)
Different markets:
– Profit maximization and perfect competition
– Monopolies and Monopsonies (Joan Robinson, Petra Moser, Minimum wages,..)
– Oligopolies (Cournot oligopoly, Stackelberg oligopoly, Bertrand oligopoly, Cartels: Bonnie and Clyde, John Nash,..)
Market failures:
– (Pareto and Hicks-Kaldor efficiency, exclusion and rivalry, public and common goods, externality too big to fail,..)
