Importance of Supply-Demand Analysis A little knowledge goes a long way Price Control, taxation and other policies e Market welfare: Normative analysis International Trade Externality(Market Failure) Market Power(Market Failure) Other markets: Financial market Labor market ● MacroeconomicsImportance of Supply-Demand Analysis A little knowledge goes a long way: • Price Control, Taxation and other policies. • Market welfare: Normative Analysis • International Trade • Externality (Market Failure) • Market Power (Market Failure) • Other markets: Financial Market, Labor Market. • Macroeconomics