In this lecture, we introduce the moral justifications for economic modeling of sustainability problems, and then we transition to describing fundamentals of consumer choice theory (indifference curves, utility functions, budget constraints). This involves introducing Pareto optimality (Pareto movements and improvements, Pareto-efficient sets), which we will return to as we discuss social welfare later in the course.
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In this lecture, we go into detail about the graphical solution to maximizing the intertemporal social welfare function (i.e., balancing pre...
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This lecture session is meant to provide a student-driven, cumulative review of topics that could serve as a study guide for the upcoming fi...
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This lecture focuses on microeconomic modeling of market failures resulting from negative and positive externalities (with the aim of applyi...
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