Lecture

Market Equilibrium: Basics

In course

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Description

This lecture covers market equilibrium, price regulation, perturbations of market equilibrium, and the effects of changes in supply and demand on prices and quantities traded. It also discusses the history of the gasoline market in Switzerland, normative views on the competitive market, and the concept of maximum social welfare. The instructor compares the social optimum with market equilibrium and concludes by exploring the challenges of achieving welfare maximization in real-world markets.

Instructor

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Official source

https://mediaspace.epfl.ch/media/0_r7thjahx

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Ontological neighbourhood

Economics

Macroeconomics: Markets

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