Tuesday, November 14, 2006

So you don't learn about externalities or monopoly?

This is an interesting post on how students in an intro Economics class did not learn about market imperfections such as externalities, monopolistic competition or the trade off between efficiency and equity. A good response can be read here (scroll to the second point).

Here is an interesting assignment for you that can count towards extra credit. Name and explain the various market imperfections and qualifications we discussed in this class.

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