* Exam
** 6 T/F
** 6 problems of varying length

* Supply/demand
** Shock equilibria
*** Taxes, 
** Solve graphically and algebraically
** Elasticities
*** Demand, supply, (income, cross-price)

* Consumers
** Budget constraints
*** Understand derivation/concept
** Preferences / utility
** Choice
*** Derive demand curves
**** Solve quickly
** Income/substitution effects

* Supply/Producer
** Production functions
*** MP_K, MP_L
*** Returns to scale
** Cost
*** MC, FC, VC, AVC, AFC...
** SR vs LR
*** P = MC - perfect competitive output
*** Shutdown rules
*** LR profits are zero

* Monopoly
** MR = MC, ...
** monopoly price is greater than competitive price
** DWL

* Oligopoly
** Game theory
*** Nash equilibria
** Cournot model - quantity
*** Best response curves
** Bertrand model - prices. Usu. p = MC

* Factor markets
** Labor market
** Monopsony
*** Minimum wages

* General equilibrium
** Edgeworth box
*** Solve
*** Contract curve - Pareto optimality
** Social welfare functions
*** Utilitarian
*** Rawlsian

* Uncertainty
** Expected utility
** Expected value
*** Apply to insurance, gambles, bets

* Capital markets
** Firm: present value
** Consumers: allocate wealth with present value of consumption = PV income
*** Intertemporal consumption
*** Apply

* Externalities
** Corrections

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* Intertemporal choice problem
** Budget constraint: C_1 + 1/(1+r) C_2 = I_1 + I_2 / (1+r)