ECO 365 Week 5 participation Principles of Microeconomics, Ch. 22: Frontiers of Microeconomics
Read Ch. 22 of Principles of Microeconomics:
22-1 Asymmetric Information, pp. 462-467
22-2 Political Economy, pp. 467-471
22-3 Behavioral Economics, pp. 471-476
Consider the following as you read:
Consider the term asymmetric information in order to understand why some people are better informed than others, and the imbalance in information affects the choices they make and how they deal with one another.
Consider the term political economy, and how it’s applied to the field of political economy uses the tool.
Consider the term behavioral economics and how it’s applied to consumer into the study of economics.