1. Who am I? Chris Wallace, Lecturer at the Department of Economics, Oxford University and Fellow in Economics at Trinity College. 2. What do I do? Teach economics and research in the field of game theory. 3. Who are you? First year students taking either the Philosophy, Politics and Economics (PPE) degree

Pre-Reading Tasks 1. Answer the following questions : What happened to Abraham Lincoln oneday? How is the story related to the theme of theunit – values?

Information in Competitive Markets In purely competitive markets all agents are fully informed about traded commodities and other aspects of the market. What about markets for medical services, or insurance, or used cars?

Recent mergers and academic commentary have placed renewed focus on what has long been one of the central issues in media policy: whether media conglomerates can use vertical integration to harm

8.1 Introduction The question of why it is necessary to improve the nutritional value of plant foods is one that at first hand might seem difficult to justify. What evidence is there that this is a problem? In the developed world there are no overt signs of malnutri￾tion even amongst strict

What Are We Doing in this Chapter? We take a further look at the comparative statics of demand function with respect to prices; We divide the changes in demand due to price changes into two effects:

What Do We Do in This Chapter? We conduct comparative statics analysis of ordinary demand functions -- the study of how ordinary demands

Monetary Measures of Gains-to￾Trade You can buy as much rice as you wish at RMB1 per kilogram once you enter the gasoline market. Q: What is the most you would pay to enter the market?

What Are We Doing in this Chapter? We apply our basic framework of consumer choice to study issues of choices across different time periods; Again, in terms of theoretical framework, not much is new!

Characteristic of Superconductors Applications Important Superconductors What Is a Superconductor? A superconductor is an element, inter￾metallic alloy, or compound that will conduct electricity without resistance below a certain temperature