Mankiw 6e. Experience it.
Mankiw Blog Map
Chapters
 
Chapter 7: Consumers, Producers, and the Efficiency of Markets

Recent Posts
(Note: Page numbers referenced in posts prior to June 1, 2011 refer to 5th edition)

 

January 20

Allocating Inauguration Tickets

Most tickets to the Presidential inauguration are given away by lottery. Should the lottery winners be able to sell them to the highest bidder? Should the government sell the tickets to raise revenue?

Textbook References:

Pages 148-149 “Ticket Scalping”

November 27

Michael Sandel and His Critics

Michael Sandel argues that we too often confuse market reasoning with moral reasoning. Deirdre McCloskey and Jodi Beggs argue that Sandel's reasoning is shallow and unconvincing.

Textbook References:

Pages 149-150 “Should There Be a Market in Organs?”

May 27

What the Market Will Bear

Jack White and Third Man Records have figured out how to thwart scalpers.

Textbook References:

Pages 148-149 “Ticket Scalping”

July 27

The Rainbow Fish, Revised

The children's book, "The Rainbow Fish," is revised to illustrate the benefit of voluntary trade.

Textbook References:

Chapter 7 “Consumers, Producers, and the Efficiency of Markets”

February 15

Death by Price Control

A short video discusses a constitutional challenge to the law against paying bone marrow donors.

Textbook References:

Pages 150-152 “Should There Be A Market In Organs?”

December 16

The Economics of Seinfeld

Clips from the TV show "Seinfeld" are used to illustrate a variety of economic concepts.

Textbook References:

Pages 4-5 “Principle 1: People Face Trade-offs”
Pages 5-6 “Principle 2: The Cost of Something is What You Give Up to Get It”
Page 6 “Principle 3: Rational People Think at the Margin”
Pages 7-8 “Principle 4: People Respond to Incentives”
Pages 10-12 “Principle 7: Governments Can Sometimes Improve Market Outcomes”
Chapter 3 “Interdependence and the Gains from Trade”
Pages 67-72 “Demand”
Pages 73-76 “Supply”
Pages 144-153 “Controls on Prices”
Chapter 10 “Externalities”
Pages 226-227 “The Different Kinds of Goods”
Pages 227-232 “Public Goods”
Pages 230-232 “The Difficult Job of Cost-Benefit Analysis”
Pages 232-237 “Common Resources”
Pages 274-275 “Fixed and Variable Costs”
Page 281 “Economies and Diseconomies of Scale”
Pages 312-315 “Why Monopolies Arise”
Chapter 16 “Monopolistic Competition”
Pages 370-378 “The Economics of Cooperation”
Pages 399-400 “The Supply of Labor”
Page 414 “Compensating Differentials”
Page 442 “Utility”
Page 465 “Utility: An Alternative Way to Describe Preferences and Optimization”
Pages 484-489 “Asymmetric Information”
Pages 556-558 “Technological Knowledge”
Pages 578-580 “Financial Intermediaries”
Pages 598-600 “Present Value: Measuring the Time Value of Money”
Pages 603-604 “Diversification of Firm-Specific Risk”
Pages 606-609 “The Efficient Market Hypothesis”
Pages 630-631 “The Economics of Unions”
Pages 703-705 “The Prices for International Transactions: Real and Nominal Exchange Rates”
Pages 707-708 “The Basic Logic of Purchasing Power Parity”
Page 833 “Time Inconsistency”

May 23

Do Two Rights Make A Wrong?

The ethicist from the New York Times appears to be ethically challenged.

Textbook References:

Pages 150-152 “Should There Be A Market In Organs?”

December 3

Take Out Your Pencils 4

Mankiw provides a quiz about consumer surplus.

Textbook References:

Pages 138-142 “Consumer Surplus”

November 2

Government Motors-Update

When the government took over GM, it said it would not interfere in the company's decision-making. Yet politicians are doing just that.

Textbook References:

Pages 7-8 “Principle 4: People Respond to Incentives”
Pages 8-10 “Principle 6: Markets Are Usually a Good Way to Organize Economic Activity”
Pages 10-12 “Principle 7: Government Can Sometimes Improve Market Outcomes”
Pages 148-150 “Evaluating the Market Equilibrium”
Chapter 7: Consumers, Producers, and the Efficiency of Markets
Archived Posts

 

No Posts