Course Orientation-About the Course
Syllabus
Microeconomic Principles at a Glance
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About the Discussion Forums
Course Orientation-About Your Classmates
Updating Your Profile
Social Media
Introduction and Basic Principles-Lesson 1: Introduction
Week 1 Overview
1.1. Welcome to Principles of Microeconomics
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Introduction and Basic Principles-Lesson 2: Basic Principles
2.1. What is Economics?
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2.2. Opportunity Costs
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2.3. Net Marginal Benefit Principle
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2.4. The Invisible Hand Principle
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2.5. Trade
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Supply and Demand-Lesson 1: Introduction
Week 2 Overview
1.1. What is a Market?
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1.2. The Market for Romantic Relationships
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Supply and Demand-Lesson 2: Demand
2.1. The Determinants of Demand
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2.2. The Demand Function, Schedule, and Curve
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2.3. Introducing Comparative Statistics: Changes in the Price
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2.4. A Change in Demand, Part 1
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2.5. A Change in Demand, Part 2
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Supply and Demand-Lesson 3: Supply
3.1. The Determinants of Supply
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3.2. The Supply Equation, Schedule, and Curve
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3.3. Price of an Input Changes
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3.4. A Change in Technology
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Supply and Demand-Lesson 4: Equilibrium
4.1. Supply Surplus, Supply Shortage, and Equilibrium Price
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Supply and Demand-Lesson 5: Using the Model of Supply and Demand
5.1. Changes in Demand: Price of Related Goods
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5.2. Changes in Demand: Consumer Preferences
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5.3. A Change in Supply
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5.4. Simultaneous Change in Supply and Demand
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Supply and Demand-Lesson 6: Conclusion
6.1. Demand and Supply Conclusion
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Market Efficiency and Government Policies-Lesson 1: Introduction
Week 3 Overview
1.1. Do We Need Silly Products?
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Market Efficiency and Government Policies-Lesson 2: Consumer Surplus
2.1. What is Consumer Surplus?
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2.2. Consumer Surplus and the Demand Curve
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Market Efficiency and Government Policies-Lesson 3: Producer Surplus
3.1. What is Producer Surplus?
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3.2. Producer Surplus and the Supply Curve
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Market Efficiency and Government Policies-Lesson 4: Total Surplus
4.1. Total Surplus: The Graphical Argument for Free Markets
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Market Efficiency and Government Policies-Lesson 5: Government Intervention
5.1. Price Ceilings
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5.2. Price Floors
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Market Efficiency and Government Policies-Lesson 6: Conclusion
6.1. Could We Reduce the Shortage of Human Organs?
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6.2. Application: Playoff Tickets and Scalping Laws
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Elasticities-Lesson 1: Introduction
Week 4 Overview
1.1. Introduction to Elasticity
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Elasticities-Lesson 2: Price Elasticity of Demand
2.1. Definition and Classifying Price Elasticities of Demand
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2.2. Price Elasticity of Demand and Revenue
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2.3. Determinants of Price Elasticity of Demand
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2.4. Price Elasticities of Demand and the Linear Demand Curve
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Elasticities-Lesson 3: Other Elasticities
3.1. Income Elasticity of Demand
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3.2. Cross-Price Elasticity of Demand
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Elasticities-Lesson 4: Price Elasticity of Supply
4.1. Definition of Price Elasticity of Supply
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4.2. Determinants of Price Elasticity of Supply
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Elasticities-Lesson 5: An Application: The Incidence of Taxation
5.1. Introduction to Per-Unit Taxes
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5.2. The Distributional Effects of Tax
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5.3. Taxes and Surplus
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Elasticities-Lesson 6: Conclusion
6.1. Should Black Dog Increase the Price of Their Sandwiches?
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6.2. Other Applications of Price Elasticity
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Production and Costs-Lesson 1: Introduction
Week 5 Overview
1.1. Introduction to Production
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Production and Costs-Lesson 2: The Production Process
2.1. Demonstration: The Production of Tennis Balls
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2.2. The Production Process at a Glance
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2.3. A Numerical Example: Cooks in the Kitchen
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Production and Costs-Lesson 3: Introducing Costs
3.1. Fixed, Variable, and Total Costs
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3.2. Marginal Costs
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3.3. Cost Curves
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Production and Costs-Lesson 4: Conclusion to Production
4.1. Back to Black Dog
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4.2. Applications
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Competitive Output-Lesson 1: Introduction
Week 6 Overview
1.1. Introduction to Competitive Output
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Competitive Output-Lesson 2: Profit Maximization
2.1. The Maximizing Profit Assumption
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2.2. The Profit Equation
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2.3. The Profit Maximizing Rule
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Competitive Output-Lesson 3: Different Market Structures
3.1. Perfect Competition
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Competitive Output-Lesson 4: Competitive Output
4.1. The Short-run Decision
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4.2. Long-run Competitive Output
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4.3. Using the Long-run Equilibrium Model
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4.4. The Long-run Supply Curve
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Competitive Output-Lesson 5: Conclusion
5.1. Conclusion to Competitive Output
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Firms with Market Power-Lesson 1: Introduction
Week 7 Overview
1.1. Pricing with Market Power: An Introduction
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Firms with Market Power-Lesson 2: Market Structures
2.1. Market Structures With Pricing Power
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2.2. Sources of Market Power
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Firms with Market Power-Lesson 3: Output for Firms with Market Power
3.1. When Marginal Revenue is Less than Price
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3.2. Marginal Revenue and the Price Elasticity of Demand
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Firms with Market Power-Lesson 4: Price Strategies
4.1. Perfect Price Discrimination
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4.2. Imperfect Price Discrimination
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4.3. Other Pricing Strategies
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Firms with Market Power-Lesson 5: The Social Cost of Market Power
5.1. The Social Cost of Market Power
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Firms with Market Power-Lesson 6: Conclusion
6.1. Pricing with Market Power: Conclusion
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Public Goods, Common Resources, and Externalities-Lesson 1: Introduction
Week 8 Overview
1.1. Introduction to Public Goods, Common Resources, and Externalities
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Public Goods, Common Resources, and Externalities-Lesson 2: Different Types of Goods
2.1. How to Classify Goods
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2.2. What Type of Good is This?
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Public Goods, Common Resources, and Externalities-Lesson 3: Public Goods
3.1. The Public Goods Game
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3.2. Public Goods
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3.3. Solving the Free Rider
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Public Goods, Common Resources, and Externalities-Lesson 4: Common Resources
4.1. The Tragedy of the Commons
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4.2. How to Deal with the Tragedy of the Commons
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Public Goods, Common Resources, and Externalities-Lesson 5: Externalities
5.1. Negative Externalities
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5.2. Positive Externalities
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5.3. Private Solutions
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5.4. Governmental Solutions
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Public Goods, Common Resources, and Externalities-Lesson 6: Conclusion
6.1. Conclusion to Public Goods, Common Resources, and Externalities
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