Рет қаралды 20,700
Welcome to Lecture 1 of the online lecture series on Microeconomics I typically offered as a core paper to B.A.(P)/ SOL/ NCWEB students in their first semester and is also offered as a Generic Elective Economics
The textbook used in this video can be found here: drive.google.c...
We are referring to chapter 6 on Supply, Demand and Government Policies from the book by N. Gregory Mankiw Principles of Microeconomics I 6th edition
In this lecture, we discuss the following topics:
1. Controls on Prices
1.1 Price Ceiling
1.2 Price Floor
2. Binding and Non Binding controls
3. Application of Price Ceiling: Effect of 1973 oil price increase on gasoline market
4. Application of Price Floor: Minimum Wage Laws in Labor Market
5. Conclusions and Alternative Policies
For more videos on this lecture series:
1. Controls on Prices: • Microeconomics| Price ...
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