DEVIATIONS FROM EFFICIENCY
1) Monopoly/Monopsony: Why is MR < pD for a monopolist, why is MC > pS for a monopsonist, and why does it matter?
2) Game Theory: What is the Nash equilibrium for some simple game?
3) Oligopoly: Why is does the duopoly produce more than the monopoly and less than the competitive market?
4) Externalities/Public Goods: When do social costs/benefits deviation from private costs/benefits and why does it matter?
5) Asymmetric Information: Why does it matter that I know how risky/good I am but you don’t?