Select a Wall Street Journal article about Lecture Two, Three or Four. Write a short paper focusing on how the article is related to any
or all of the lectures.
The Book is Principles of Economics, Seventh Edition, by Gregory Mankiw
Lecture Two: Elasticity and Applications
Part One: Elasticity of Demand
Part Two: Elasticity of Supply
Part Three: Application of Supply, Demand and Elasticity
Markets and Welfare
Lecture Three: Consumer, Producers and the Efficiency of Markets
Lecture Topics: Consumer Surplus
Producer Surplus
Market Efficiency
Lecture Four: Application of the Cost of Taxation
Lecture Topics: Deadweight Loss of Taxation
2-3 pages.