14.04 - Intermediate Microeconomic Theory
14.04 Intermediate Microeconomic Theory (Fall 2020, MIT OCW). Instructor: Prof. Robert M. Townsend. This course provides an introduction to theory and data designed to meet the needs of students interested in economic science. It provides an introduction to consumer choice, the theory of the firm, and general equilibrium models, with an overview of the main results and tools used in studying these topics, both directly in economics and indirectly in various other fields. This includes analysis of consumer and producer decisions, partial and general equilibrium analysis, insurance, the welfare theorems and failures of these theorems as with externalities but with resolutions, contract theory and mechanism design, policy analysis, the content of theory for data, and the design of media of exchange as with Bitcoin and markets made possible by distributed ledgers. (from ocw.mit.edu)
| Lecture 14 - Real and Financial Flows: Thailand |
Instructor: Prof. Robert M. Townsend. Villages and towns are like small open economies within a nation, yet the SMEs within them are heterogeneous in wealth and productivity. They are also typically constrained. Thus, opening the economy up to increased trade and to capital flows can produce surprisingly large welfare gains and losses, even for those living within the very same village.
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