Investigates factors that influence the short-run and long-run effects of supply-side shocks on aggregate income and tax revenues. Concludes that the long-run relationship between tax revenues and the tax rate is completely independent of price-level elasticity. (CFR)

Maintains that it is generally assumed that rent control redistributes wealth from landlords to consumers of housing. Presents data and graphs to illustrate how rent control can benefit landlords and increase housing availability. Asserts that this exercise is effective for students studying microeconomic theory. (CFR)

Recommends reviewing the 1958 debate between P. A. Samuelson and J. R. Minasian over the controversy involving tax-financed television versus pay-TV. This exercise is a lively way to introduce students to the issue of exclusionary devices for public goods. Includes graphical analysis and excerpts from the original debates. (MJP)

Describes a class where students learn microeconomics from the perspective of a new business owner. This approach requires reordering the typical sequence of material and introducing a market simulation exercise. Includes a sample business plan, course outline, and data tables. (MJP)

Reconsiders Uriel Spiegel's analysis of the Giffen phenomenon, a utility function that yields an inferior good with an upward-sloping demand curve. Extends this to include similar utility functions that yield inferiority. Discusses the earlier work of related theorists including Liebhafsky, Vandermeulen, and Wold and Jureen. (MJP)

Reexamines Spiegel's analysis of the Giffen phenomenon, a utility function that yields an inferior good with an upward-sloping demand curve and incorporates Christian Weber's criticism into the model. Disagrees with Weber on some points but agrees that as income decreases the likelihood of the Giffen product decreases. (MJP)

Describes an undergraduate economics course experiment designed to teach the concepts of comparative advantage and opportunity costs. Students have a limited number of labor hours and can chose to produce either wheat or steel. As the project progresses, the students trade commodities in an attempt to maximize use of their labor hours. (MJP)

Presents an annotated bibliography intended to inform nonspecialists of microeconomic research in poor countries. Six areas of research are discussed: household economics, health/nutrition and income, poverty measurement and analysis, agrarian technological change and labor markets. The section on labor markets also discusses saving, credit, and…