Intermediate Microeconomics - Chapter 2 Budget Constraint
Channel: Burkhard C. Schipper
Date: 2013-10-08

Burkhard C. Schipper from the University of California, Davis, discusses material from Chapter 2, Budget Constraint, in his course Intermediate Microeconomic Theory. He introduces a simple of model of budget constraints of a consumer, studies changes of the budget set with respect to changes in prices and income, and discusses how taxes, subsidies, rationing, and inflation affect budget constraints. As an application he illustrates how the Food Stamp program affects budget constraints.