Lecture 2: Demand Analysis and Consumer Welfare
Topics
- Indirect utility function
- Expenditure minimization and expenditure function
- Marshallian and Hicksian demand
- Slutsky equation
- Measuring welfare: CV, EV, and consumer surplus
Textbook references: 4.4; 4.7; 5.1-5.8; 6.1-6.3
Slides
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