AM02 S&D Models

ADV MICRO Sep 2018: Work on 2nd Lecture, to be completed before Friday 14th Sept 2018

BACKGROUND MATERIALS:

Conventional Theory of the Firm from Varian READ pages 1-8 as a review before class.

Also, start reading the ANTI-TEXTBOOK. Hill Myatt =- page 46 - 66 will be covered in the first few lectures on Supply and Demand Models.

BOTH of these readings -- to be covered in next few lectures on SUPPLY and DEMAND, are ATTACHED at bottom of page.

READING/VIDEO ASSIGNMENT: On my personal website: AM02 S&D Models: (1) brief 100 word summary, (2) link to video lecture, (3) Longer, 3000 word outline of lecture.

Come to class with TWO POINTS written down for submission: What is the most important thing that you learned from this lecture? What was the most confusing thing -- one question that you would like to ask.

In addition to using these two points as basis for discussion, also think about the Sample Question for Final Given below -- these questions will also be discussed in classroom

========================Material from Last Academic Year Sep 2017==================

Sample Question for Final:

The goal is to show that Conventional Textbooks DECEIVE students about the generality of the Supply and Demand Model

1. What do textbooks STATE or IMPLY about S&D which is false? Provide TEXTUAL evidence

2. What impression is created in minds of students about scope of Validity of S&D -- provide EMPIRICAL evidence, discussions with fellow students for example.

3. What is the TRUTH, which is DIFFERENT from what Textbooks state, and what students believe?

4. What THEORETICAL EVIDENCE can you provide for this TRUTH -- That is, provide logical arguments

5. What EMPIRICAL EVIDENCE can you provide for this truth - give evidence from observation about firms, markets, consumers from real life.