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Microeconomic Theory
University of Toronto St. George
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Browse the full collection of course materials, past exams, study guides and class notes for ECO200Y1 - Microeconomic Theory at University of Toronto St. George verified by our …

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John Mcneill

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McNeill, J.

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Class Notes

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ECO200Y1 Lecture Notes - Lecture 2: Gdp Deflator

ECO200Y1 Lecture Notes - Lecture 3: Gdp Deflator, Procyclical And Countercyclical, Factors Of Production

G1= 2340/1600 (from part b calculating the real gdp with base year 1) G2= 2910/2150 (from part c calculating real gdp using base year 2) g = 1. 46. I k

ECO200Y1 Lecture 4: Chapter 2-3 + Graphs

If the prices of goods and services change substantially over time, nominal gdp becomes a poor measure of changes in aggregate economy. Maybe the quant

ECO200Y1 Lecture Notes - Lecture 5: Price Discrimination, Economic Surplus, Cover Charge

Price discrimination is a recurring practice in commerce that seeks to increase the profit of producers or sellers. Consists of selling the same produc

ECO200Y1 Lecture 6: mergers

The merger of companies is when two different companies join their operations, resulting in a new company. They are horizontal, when verified between c

ECO200Y1 Lecture Notes - Lecture 7: Marginal Cost, Demand Curve, Perfect Competition

Monopoly occurs when only one company provides a service or product in a given economy, without competitors. The company alone can meet the demands of

ECO200Y1 Lecture Notes - Lecture 8: Oligopoly, Market Power, Marginal Revenue

It is a form of market in which the market or industry is dominated by a small number of sellers / producers (oligopolists). The word is derived from g

ECO200Y1 Lecture Notes - Lecture 9: Diminishing Returns, Top Hat, Isoquant

Less labour and more capital in order to stay in the same production output, hence the ratio will increase. When i increase output, i need to increase

ECO200Y1 Lecture Notes - Lecture 10: Perfect Competition, Demand Curve, Average Variable Cost

It is in this context that the existence of the "perfect competition" phenomenon is considered, Where we find a limit situation in which no company or

ECO200Y1 Lecture Notes - Lecture 11: Simple Linear Regression, Heteroscedasticity, Autocorrelation

ECO200Y1 Lecture Notes - Lecture 12: Gross Fixed Capital Formation, Fixed Capital, Capital Formation

Investment, in macroeconomics, is the expenditure on goods and services that will be used in the future in the production of other goods and services.

ECO200Y1 Lecture Notes - Lecture 15: Price Discrimination, Perfect Competition, Market Power

ECO200Y1 Lecture Notes - Lecture 16: Exchange Economy, Edgeworth Box, Opportunity Cost

Unlike what occurs with partial equilibrium analysis (determination of equilibrium prices and quantities in one market, regardless of the effects cause

ECO200Y1 Lecture 17: Money

We will work with a simplified cash-in-advance model, which assumes money is necessary for transactions. P and p"--> current and future price levels

ECO200Y1 Lecture Notes - Lecture 18: Monopsony, Imperfect Competition, Demand Curve

Monopsony is a market structure where there is only one plaintiff or buyer. While there may be one or more bidders. Therefore the market is considered

ECO200Y1 Lecture Notes - Lecture 19: Finn E. Kydland, Factors Of Production, Business Cycle

Business cycle theory introduced by finn kydland and edprescott in the early. Business cycles in the rbc model are caused by fluctuations in total fact

ECO200Y1 Lecture Notes - Lecture 20: Seigniorage, Time Series, Macroeconomics

Macroeconomists came under criticism during and following the global financial crisis and the recession of 2008-09. As macroeconomic theory seemed ill

ECO200Y1 Lecture Notes - Lecture 21: Information Asymmetry, Perfect Competition, Market Failure

Information asymmetry is the name given when one party has more information about a product or service than the other party. Considered a market failur

ECO200Y1 Lecture Notes - Lecture 22: Herd Behavior, Market Failure, Perfect Competition

For the herd behavior, when a large part of the agents of a given market has insufficient access to the relevant information of that market. Which lead

ECO200Y1 Lecture Notes - Lecture 23: Homo Economicus, Behavioral Economics, Daniel Kahneman

A relatively new discipline, resulting from the incorporation, by economics, of theoretical developments and empirical discoveries. Its researchers sta

ECO200Y1 Lecture Notes - Lecture 24: Richard Thaler

The classical theory of economics assumes that people are rational. They make decisions based on the information available and choose the option that w

ECO200Y1 Lecture Notes - Lecture 25: Homo Economicus, Behavioral Economics

Empirical studies in behavioral economics have investigated how human beings are affected by factors such as: Form that a choice is presented (framing)

ECO200Y1 Lecture Notes - Lecture 26: Behavioral Economics, Daniel Kahneman

Argue that the attempt to unify every psychological idea in a single model is useless. Thaler also says that there are few theories so far that have pr