The Elements of Economic Analysis

Lecture Details

ECON 20100 The Elements of Economic Analysis E. Glen Weyl, Assistant Professor of Economics and the College "Price Discrimination," October 27, 2011. The first part of this course discusses markets with one or a few suppliers. The second part focuses on demand and supply for factors of production and the distribution of income in the economy. This course also includes some elementary general equilibrium theory and welfare economics.This lecture addresses monopolistic firms attempt to get around their basic trade-off by charging different prices to different consumer or for different units of goods. After exploring why first-degree price discrimination is desirable but unattainable, we consider how various imperfect forms of price discrimination (implicit, explicit and others) operate. We analyze when price discrimination improves and when it harms the efficient operation of markets and how price discriminatory strategies can be used in the design of public policies such as taxation, auctions and criminal justice.For readings associated with this lecture and slides, visit httpwww.glenweyl.comteaching