Under labor demand, marginal productivity theory is discussed and then applied to minimum wages, teenage unemployment, and professional sports. The introduction to labor supply begins with the theory of consumer demand and proceeds with the analyses of labor force participation rates, and the economics of education. The course concludes with a discussion of labor market policies. A theoretical analysis of market structures and their effects on efficiency, equity, and the environment. Focus is on the industrial structure of the U.S. and the public policy response.
Emphasis is on oligopolies and their role in the American economy.
Deals with regression theory covering bivariate and multiple regressions with associated problems such as multicollinerity, heteroscedasticity, and autocorrelation. Coverage extends into estimation techniques including simultaneous-equation models. Focuses on the effect of public-sector decisions on resource allocation. The first section examines the nature of public goods, and income, expenditure, wealth-based taxes, and benefit cost analysis as tools in supplying public services. Includes a brief treatment of capital budgeting.