Susan Christoffersen Phd

Home
Up

Any current messages from the instructor for a class can be accessed here.

Introduction to Microeconomics

Answers to topic questions should include graphic analysis.

1. Analyze Mayor Rendell's proposed policy of instituting a higher minimum wage of $7.00/hour for construction workers in center city.  Explain why the debate about minimum wage depends on the elasticity of demand in the labor market.

2.  Using supply and demand analysis, explain how a ghetto premium might arise.

3. One of the major urban problems we discussed is crime rates. Explain how these rates may be exacerbated or ameliorated by stricter enforcement of drug trafficking with specific refernce to the elasticity of demand for drugs.

4. What were the barriers to entry faced by Tucker ?

5. Explain what an externality is and give an example of a negative externality.   What is the role of government in correcting this.

6. What is a public good?  Give an example of this. Why do public goods create a role for government?

7. What is "brain drain" and why is it a problem?

8. Describe a Lorenze curve.  What does a Lorenz curve that is not close to the diagnol indicate about a country?

9. Why does the government levy high taxes on cigarettes?  Discuss the burden of taxation as well as the economic impact on production.

10. Allowing opening immigration from Cuba during the Mariel boat lift was very costly to our country. What are some of the disadvantages of a liberal policy and what are some of the advantages of immigration?