! BackPrinciples of Microeconomics

Fdownload### Gains from Trade and International Trade

### Oligopoly Behavior in a Game Theory Setting

### Market Interventions

### Long Run Equilibrium

### Monopoly

### Oligopoly and Collusion

### Market Interventions

### Long Run Equilibrium

### Monopoly

### Oligopoly and Collusion

### Oligopoly Behavior in a Game Theory Setting

### Externalities

### Public Goods and Free Riding

### Common-Pool Resources

Show how firm entry and exit decisions are affected by the decisions in the previous round, and if the market entrants earned a profit or not.
In the long-run equilibrium of a competitive market with identical firms, all firms earn zero economic profits.
### Monopoly

### Oligopoly and Collusion

### Oligopoly Behavior in a Game Theory Setting

### Monopoly

### Oligopoly and Collusion

### Oligopoly Behavior in a Game Theory Setting

### Externalities

### Oligopoly and Collusion

### Oligopoly Behavior in a Game Theory Setting

### Externalities

### Oligopoly and Collusion

MobLab Game: Comparative Advantageimpact of repeat interaction.

MobLab Game: Prisoner’s Dilemma (Matrix) and Prisoner’s Dilemma (Push and Pull)

Key Teaching Points:

- Shows the conflicting incentives of cooperation and self-interest.
- Gain familiarity with reading payoff matrices and the key concept of a dominant strategy.
- Identification of Nash equilibrium.
- Demonstrates that repeat play can leailibrium.
- Show that the competitive-market equilibrium maximizes total surplus (absent external costs or benefits).
- Explore how shifts in supply and demand alter equilibrium predictions.

MobLab Game: Competitive Market with Interventions

Key Teaching Points:

- Demonstrate the equilibrium and surplus effects of common government interventions: per-unit taxes and subsidies, price ceilings and floors.

MobLab Game: Production, Entry & Exit

Key Teaching Points:

- Short-run profit maximization involves thinking at the margin.
- Show how firm entry and exit decisions are affected by the decisions in the previous round, and if the market entrants earned a profit or not.
- In the long-run equilibrium of a competitive market with identical firms, all firms earn zero economic profits.

MobLab Game: Monopoly

Key Teaching Points:

- Review the effects of market quantity on price.
- Profit maximization involves thinking on the margin.
- Compare output and price to under monopoly to the perfectly competitive market.

MobLab Game: Cournot

Key Teaching Points:

- Experience profit maximization when there is strategic interdependence.
- Gain an understanding of the underlying logic of the Cournot model; how market price is determined by the aggregation of simultaneous output.
- Observe the Cournot equilibrium and the fit maximization leads to competitive-market equfit maximization leads to competitive-market equilibrium.
- Show that the competitive-market equilibrium maximizes total surplus (absent external costs or benefits).
- Explore how shifts in supply and demand alter equilibrium predictions.

MobLab Game: Competitive Market with Interventions

Key Teaching Points:

- Demonstrate the equilibrium and surplus effects of common government interventions: per-unit taxes and subsidies, price ceilings and floors.

MobLab Game: Production, Entry & Exit

Key Teaching Points:

- Short-run profit maximization involves thinking at the margin.
- Show how firm entry and exit decisions are affected by the decisions in the previous round, and if the market entrants earned a profit or not.
- In the long-run equilibrium of a competitive market with identical firms, all firms earn zero economic profits.

MobLab Game: Monopoly

Key Teaching Points:

- Review the effects of market quantity on price.
- Profit maximization involves thinking on the margin.
- Compare output and price to under monopoly to the perfectly competitive market.

MobLab Game: Cournot

Key Teaching Points:

- Experience profit maximization when there is strategic interdependence.
- Gain an understanding of the underlying logic of the Cournot model; how market price is determined by the aggregation of simultaneous output.
- Observe the Cournot equilibrium and the impact of repeat interaction.

MobLab Game: Prisoner’s Dilemma (Matrix) and Prisoner’s Dilemma (Push and Pull)

Key Teaching Points:

- Shows the conflicting incentives of cooperation and self-interest.
- Gain familiarity with reading payoff matrices and the key concept of a dominant strategy.
- Identification of Nash equilibrium.
- Demonstrates that repeat play can lead to more cooperative outcomes.

*Push and Pull is a non-matrix version of the Prisoner’s Dilemma.*

MobLab Game: Externalities with Policy Intervention

Key Teaching Points:

- Show a divergence between market price and quantity and the socially optimal price and quantity for an externality-generating good.
- Explore interventions like tax, subsidy, and tradable permits for externality generating goods.

MobLab Game: Public Goods: Linear

Key Teaching Points:

- Highlights the features of public goods: non-rival and non-excludable.
- Shows the tension between individual and group welfare.
- Experience the free-rider problem.

MobLab Game: Commons: Fisheryn.

MobLab Game: Monopoly

Key Teaching Points:

- Review the effects of market quantity on price.
- Profit maximization involves thinking on the margin.
- Compare output and price to under monopoly to the perfectly competitive market.

MobLab Game: Cournot

Key Teaching Points:

- Experience profit maximization when there is strategic interdependence.
- Gain an understanding of the underlying logic of the Cournot model; how market price is determined by the aggregation of simultaneous output.
- Observe the Cournot equilibrium and the impact of repeat interaction.

MobLab Game: Prisoner’s Dilemma (Matrix) and Prisoner’s Dilemma (Push and Pull)

Key Teaching Points:

- Shows the conflicting incentives of cooperation and self-interest.
- Gain familiarity with reading pn.
- Show how firm entry and exit decisions are affected by the decisions in the previous round, and if the market entrants earned a profit or not.
- In the long-run equilibrium of a competitive market with identical firms, all firms earn zero economic profits.

MobLab Game: Monopoly

Key Teaching Points:

- Review the effects of market quantity on price.
- Profit maximization involves thinking on the margin.
- Compare output and price to under monopoly to the perfectly competitive market.

MobLab Game: Cournot

Key Teaching Points:

- Experience profit maximization when there is strategic interdependence.
- Observe the Cournot equilibrium and the impact of repeat interaction.

MobLab Game: Prisoner’s Dilemma (Matrix) and Prisoner’s Dilemma (Push and Pull)

Key Teaching Points:

- Shows the conflicting incentives of cooperation and self-interest.
- Gain familiarity with reading payoff matrices and the key concept of a dominant strategy.
- Identification of Nash equilibrium.
- Demonstrates that repeat play can lead to more cooperative outcomes.

*Push and Pull is a non-matrix version of the Prisoner’s Dilemma.*

MobLab Game: Externalities with Policy Intervention

Key Teaching Points:

- Show a divergence between market price and quantity and the socially optimal price and
- Compare output and price to under monopoly to the perfectly competitive market.

MobLab Game: Cournot

Key Teaching Points:

- Experience profit maximization when there is strategic interdependence.
- Observe the Cournot equilibrium and the impact of repeat interaction.

MobLab Game: Prisoner’s Dilemma (Matrix) and Prisoner’s Dilemma (Push and Pull)

Key Teaching Points:

- Shows the conflicting incentives of cooperation and self-interest.
- Gain familiarity with reading payoff matrices and the key concept of a dominant strategy.
- Identification of Nash equilibrium.
- Demonstrates that repeat play can lead to more cooperative outcomes.

*Push and Pull is a non-matrix version of the Prisoner’s Dilemma.*

MobLab Game: Externalities with Policy Intervention

Key Teaching Points:

- Show a divergence between market price and quantity and the socially optimal price and
- Compare output and price to under monopoly to the perfectly competitive market.

MobLab Game: Cournoton-making process for economic actors.