What Do We Do in This Chapter? We conduct comparative statics analysis of ordinary demand functions the study of how ordinary demands*(p,,P2,y) and x2*(p1,p2,y) change as prices1,P2 and income y change. Theoretically, nothing new

Where Are We in the Course? We are studying the 1st of the three blocks of microeconomics: Consumer behavior, production theory, and market equilibrium Within the 1st block, we are working on the 2nd of the three components: choice set, preference, and consumer demand

Where are We in the Course? We are working on the 1st of the 3 components of microeconomics: Consumer behavior, production theory, and market. There are three elements of consumer behavior: budget constraint, preference, and choices

The Purpose of this Chapter To begin to understand the art of building an economic model To begin to understand three basic elements of modeling in economics: Purpose Simplification through assumptions -Value judgment

Expectations and Conditional Expectations Definition 1 Discrete Random Variable random wariable is discrete f the set of outcomes is either finite in number or countably

Ten Principles of Economics Thinking Like an Economist Interdependence and the Gains from Trade The Market Forces of Supply and Demand Elasticity and Its Application Supply, Demand and Government Policies Consumers, Producers, and the Efficiency of Markets Application: The Costs of Taxation Application: International Trade Externalities Public Goods and Common Resources The Costs of Production Firms in Competitive Markets Monopoly Oligopoly Monopolistic Competition The Economics of Labor Markets

Medical Genetics Genetic diseases and congenital malformations occur in approximately 2 to 5 of all live births, account for up to 30% of paediatric admissions to hospital, and are an important cause of death under the age of 15 years

Lecture 3: Degradable Materials with Biological Recognition Last time: Theory of hydrolytic polymer erosion Enzymatic degradation of polymers Designing Biodegradable Macromolecules Today: Biological recognition in vivo Engineering biological recognition of biomaterials: cell adhesion/migration Reading: S.E. Sakiyama-Elbert and J.A. Hubbell, 'Functional Biomaterials: Design of Novel

molecular switches Proteins as motors in nanodevices Today. nano-and micro-particle drug carriers Reading D A Hammer and D.E. Discher, ' Synthetic cells- Self-assembling polymer membranes and bioadhesive colloids, Annu. Rev. Mater Res, 31, 387-404 (2001) Nano- and Micro-scale Drug Carriers and Detection Reagents Nano- to Micro-particle polymer-protein

Lecture 9: Polyelectrolyte Hydrogels Last Day: Physical hydrogels Structure and chemistry Toda polyelectrolyte hydrogels, complexes, and coacervates rolyte multilayer theory of swelling in ionic hydrogels Reading S.K. De et aL., 'Equilibrium swelling and kinetics of pH-responsive hydrogels: Models experiments, and simulations