Real-World Issue 1: How do consumers and producers make choices in trying to meet their economic objectives?

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Classic View

Demand

Supply

Competitive Market Equilibrium

Critique of the Maximizing Behaviour of Consumers and Producers

Elasticities of Demand

Elasticity of Supply

Demand

MICRO – SUPPLY AND DEMAND

Demand

Dr Patrick Gaule, Bristol University

MICRO – SUPPLY AND DEMAND

The Determinants of Demand and Shifts in the Demand Curve

Dr Patrick Gaule, Bristol University

MICRO – HOW ECONOMISTS THINK

Supply and Demand

Prof. Avinash Dixit, Princeton University

Supply

MICRO – SUPPLY AND DEMAND

Supply

Dr Patrick Gaule, Bristol University

MICRO – HOW ECONOMISTS THINK

Supply and Demand

Prof. Avinash Dixit, Princeton University

Competitive Market Equilibrium

MICRO – SUPPLY AND DEMAND

Supply and Demand

Dr Patrick Gaule, Bristol University

MICRO – SUPPLY AND DEMAND

Market Equilibrium and Welfare

Dr Patrick Gaule, Bristol University

Critique of the Maximizing Behaviour of Consumers and Producers

MICRO – BEHAVIOURAL ECONOMICS

What is Behavioural Economics?

Prof. Johannes Abeler, University of Oxford

MICRO – BEHAVIOURAL ECONOMICS

Reciprocity

Prof. Johannes Abeler, University of Oxford

MICRO – BEHAVIOURAL ECONOMICS

Morality and Reputational Concerns

Prof. Johannes Abeler, University of Oxford

MICRO – BEHAVIOURAL ECONOMICS

Temptation and Procrastination

Prof. Johannes Abeler, University of Oxford

MICRO – BEHAVIOURAL ECONOMICS

Bounded Rationality

Prof. Johannes Abeler, University of Oxford

MICRO – BEHAVIOURAL ECONOMICS

Why does it matter?

Prof. Johannes Abeler, University of Oxford

MICRO – INDIVIDUAL ECONOMIC DECISION-MAKING

Rational Economic Decision-Making

Dr Maija Halonen-Akatwijuka, Bristol University

MICRO – INDIVIDUAL ECONOMIC DECISION-MAKING

Indifference Curves

Dr Maija Halonen-Akatwijuka, Bristol University

MICRO – INDIVIDUAL ECONOMIC DECISION-MAKING

Budget Lines

Dr Maija Halonen-Akatwijuka, Bristol University

MICRO – INDIVIDUAL ECONOMIC DECISION-MAKING

Asymmetric Information

Dr Maija Halonen-Akatwijuka, Bristol University

MICRO – INDIVIDUAL ECONOMIC DECISION-MAKING

Behavioural Economics

Dr Maija Halonen-Akatwijuka, Bristol University