Microeconomics

  1. Market Failures and Government Intervention
    1. Externalities
      1. Definition and Types
        1. Positive Externalities
          1. Negative Externalities
            1. Production Externalities
              1. Consumption Externalities
              2. Negative Externalities
                1. External Costs
                  1. Social Cost vs. Private Cost
                    1. Market Failure and Overproduction
                    2. Correcting Negative Externalities
                      1. Pigovian Taxes
                        1. Regulation and Standards
                          1. Cap-and-Trade Systems
                          2. Positive Externalities
                            1. External Benefits
                              1. Social Value vs. Private Value
                                1. Market Failure and Underproduction
                                2. Correcting Positive Externalities
                                  1. Subsidies
                                    1. Government Provision
                                      1. Voucher Systems
                                      2. Private Solutions to Externalities
                                        1. The Coase Theorem
                                          1. Bargaining and Negotiation
                                            1. Property Rights
                                              1. Transaction Costs
                                            2. Public Goods and Common Resources
                                              1. Characteristics of Goods
                                                1. Excludability
                                                  1. Rivalry in Consumption
                                                  2. Types of Goods
                                                    1. Private Goods
                                                      1. Public Goods
                                                        1. Common Resources
                                                          1. Club Goods
                                                          2. Public Goods
                                                            1. Free-Rider Problem
                                                              1. Optimal Provision of Public Goods
                                                                1. Government Provision
                                                                2. Common Resources
                                                                  1. Tragedy of the Commons
                                                                    1. Overuse Problem
                                                                      1. Solutions to Common Resource Problems
                                                                    2. Information Problems
                                                                      1. Asymmetric Information
                                                                        1. Definition and Consequences
                                                                          1. Market Failures from Information Problems
                                                                          2. Adverse Selection
                                                                            1. Definition and Examples
                                                                              1. Market Unraveling
                                                                                1. Solutions to Adverse Selection
                                                                                2. Moral Hazard
                                                                                  1. Definition and Examples
                                                                                    1. Principal-Agent Problems
                                                                                      1. Solutions to Moral Hazard
                                                                                      2. Market Responses to Information Problems
                                                                                        1. Signaling
                                                                                          1. Screening
                                                                                            1. Reputation Systems
                                                                                          2. Government Intervention
                                                                                            1. Price Controls
                                                                                              1. Price Ceilings
                                                                                                1. Effects on Market Outcomes
                                                                                                  1. Shortages and Black Markets
                                                                                                    1. Examples and Applications
                                                                                                    2. Price Floors
                                                                                                      1. Effects on Market Outcomes
                                                                                                        1. Surpluses and Waste
                                                                                                          1. Examples and Applications
                                                                                                        2. Taxes and Subsidies
                                                                                                          1. Tax Incidence
                                                                                                            1. Factors Affecting Tax Incidence
                                                                                                            2. Deadweight Loss of Taxation
                                                                                                              1. Sources of Deadweight Loss
                                                                                                                1. Factors Affecting Deadweight Loss
                                                                                                                2. Subsidies and Their Effects
                                                                                                                3. Regulation
                                                                                                                  1. Types of Regulation
                                                                                                                    1. Costs and Benefits of Regulation
                                                                                                                      1. Regulatory Capture

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                                                                                                                  7. Factor Markets

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                                                                                                                  9. Welfare Economics