Chapter and sections in Taylor to Read |
Pg # |
Comments/Assignment |
4 Demand and Supply
|
61 |
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Demand, Supply, and Equilibrium in Markets for Goods and Services |
62 |
Read – Important |
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Demand for Goods and Services |
62 |
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Supply of Goods and Services |
63 |
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Equilibrium: Where Demand and Supply Cross |
65 |
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Shifts in Demand and Supply for Goods and Services |
66 |
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The Ceteris Paribus Assumption |
67 |
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An Example of a Shifting Demand Curve |
67 |
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Factors That Shift Demand Curves |
68 |
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Summing Up Factors That Change Demand |
69 |
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An Example of a Shift in a Supply Curve |
69 |
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Factors That Shift Supply Curves |
71 |
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Summing Up Factors That Change Supply |
72 |
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Shifts in Equilibrium Price and Quantity: The Four-Step Process |
73 |
Read – examples of suppy & demand analysis; pay particular attention to the method; be sure you can do it |
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Good Weather for Salmon Fishing |
73 |
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Seal Hunting and New Drugs |
74 |
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The Interconnections and Speed of Adjustment in Real Markets |
77 |
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Price Ceilings and Price Floors in Markets for Goods and Services |
77 |
Read – Important |
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Price Ceilings |
77 |
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Price Floors |
79 |
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Responses to Price Controls: Many Margins for Action |
80 |
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Policy Alternatives to Price Ceilings and Price Floors |
82 |
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Supply, Demand, and Efficiency |
83 |
Read |
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Consumer Surplus, Producer Surplus, Social Surplus |
83 |
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Inefficiency of Price Floors and Price Ceilings |
84 |
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Demand and Supply as a Social Adjustment Mechanism |
86 |
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Key Concepts and Summary |
86 |
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Review Questions |
88 |
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5 Labor and Financial Capital Markets
|
89 |
Read – application of supply & demand analysis to non-product markets |
|
Demand and Supply at Work in Labor Markets
|
89 |
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Equilibrium in the Labor Market |
90 |
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Shifts in Labor Demand |
91 |
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Shifts in Labor Supply |
92 |
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Technology and Wage Inequality: The Four-Step Process |
92 |
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Price Floors in the Labor Market: Living Wages and Minimum Wages |
94 |
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The Minimum Wage as an Example of a Price Floor |
95 |
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Demand and Supply in Financial Capital Markets
|
96 |
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Who Demands and Who Supplies in Financial Capital Markets |
97 |
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Equilibrium in Financial Capital Markets |
97 |
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Shifts in Demand and Supply in Financial Capital Markets |
98 |
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The United States as a Global Borrower: The Four-Step Process |
99 |
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Price Ceilings in Financial Capital Markets: Usury Laws |
100 |
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Don’t Kill the Price Messengers |
102 |
Read Important |
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Key Concepts and Summary |
103 |
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Review Questions |
104 |
optional |
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