One week, two big topics! Today we’re discussing Game Theory. This topic is awesome, and really wish we could give it more space – in future economics you will. So what are we thinking about here.
Author Archive for: Matt Nolan
About Matt Nolan
Matt Nolan is a teaching assistant at Victoria University of Wellington and policy analyst. Views expressed here are my own and are unrelated to my organisations.
Entries by Matt Nolan
Hi all, As you know this is a course on microeconomics … so it is a bit random to teach macroeconomics. However, as this is the only economics course many students do we think it is a good idea to introduce some of the jargon you will see a lot in your work life! Usually […]
This weeks discussion is something a bit different. For the first six weeks we were building up models of producer and consumer choice, and finished with our market model of “perfect competition”. Given this we were able to discuss gains from trade where all producers were the same – but consumers were a bit different. […]
Hi all. As you will have noticed from the lecture videos there is a lot of content in this week – more than in any other single week. But it is because we are tying all the prior weeks together, and trying to make sure we are clear regarding what we are saying! The lecture […]
I have been preparing my lecture content for macroeconomics later in the year, and have thought it would be a bit of fun to finish with the following: discuss why the initial marginal propensity to consumer and the final multiplier on any “initial expenditure impulse” need not be related to each other. This is an […]
Today is a short post – there is just a key thing I want you to remember about a profit maximising firm. [Lecturer slides here and here] Marginal Revenue = Marginal Cost Marginal Revenue = Marginal Cost Marginal Revenue = Marginal Cost