This lecture will cover Chapter 5: THe Firm of Hill and Myatt Economics Anti-Textbook from page 93 to page 117.
Sample Question for Final:
Find THREE predictions about firm behavior (regarding cost functions, profit maximization, etc.) that are made by microeconomic theory. Provide TEXTUAL evidence (writing from textbooks which makes these claims).
Find real world observations about firms which show that these predictions are wrong.
Video Lecture: AM06 Firms - 1hr 32m
The Corporation *(dccumentary) - 2+ hrs but broken into short 23 pieces
Movies: Tigers and Inside Job - Theory says that profit maximization leads to efficiency. These documentaries show how profit maximization leads to disaster.
Joel Bakan: The Corporation - Book based on the documentary, and other relevant materials