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Home
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Business & Commerce
microeconomics
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Course Content
Category: Business & Commerce
Topic outline
General
General
General
Microeconomics Discussion Group
Forum
Introduction and basic concepts
Introduction and basic concepts
Introduction and basic concepts
Scarcity
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Scarcity and rivalry
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Four factors of production
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Economic models
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Normative and positive statements
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Property rights in a market system
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Markets and property rights
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Production possibilities curve
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Opportunity cost
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Increasing opportunity cost
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PPCs for increasing, decreasing and constant opportunity cost
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Comparative advantage, specialization, and gains from trade
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Comparative advantage and absolute advantage
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Opportunity cost and comparative advantage using an output table
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Terms of trade and the gains from trade
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Input approach to determining comparative advantage
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When there aren't gains from trade
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Comparative advantage worked example
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Supply, demand and market equilibrium
Supply, demand and market equilibrium
Supply, demand and market equilibrium
Law of demand
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Market demand as the sum of individual demand
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Substitution and income effects and the law of demand
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Price of related products and demand
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Change in expected future prices and demand
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Changes in income, population, or preferences
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Normal and inferior goods
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Inferior goods clarification
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Law of supply
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Change in supply versus change in quantity supplied
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Factors affecting supply
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Market equilibrium
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Changes in market equilibrium
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Changes in equilibrium price and quantity when supply and demand change
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Elasticity
Elasticity
Elasticity
Introduction to price elasticity of demand
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Price elasticity of demand using the midpoint method
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More on elasticity of demand
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Determinants of price elasticity of demand
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Determinants of elasticity example
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Perfect inelasticity and perfect elasticity of demand
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Constant unit elasticity
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Total revenue and elasticity
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More on total revenue and elasticity
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Elasticity and strange percent changes
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Introduction to price elasticity of supply
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Elasticity of supply using a different method
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Price elasticity of supply determinants
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Income elasticity of demand
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Cross-price elasticity of demand
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Consumer and producer surplus, market interventions, and international trade
Consumer and producer surplus, market interventions, and international trade
Consumer and producer surplus, market interventions, and international trade
Demand curve as marginal benefit curve
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Consumer surplus introduction
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Total consumer surplus as area
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Producer surplus
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Equilibrium, allocative efficiency and total surplus
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Rent control and deadweight loss
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Minimum wage and price floors
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How price controls reallocate surplus
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Taxation and dead weight loss
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Example breaking down tax incidence
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Percentage tax on hamburgers
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Taxes and perfectly inelastic demand
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Taxes and perfectly elastic demand
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Changing equilibria from trade
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Trade and tariffs
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Example on tariffs and trade
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Consumer theory
Consumer theory
Consumer theory
Marginal utility and total utility
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Visualizing marginal utility MU and total utility TU functions
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Utility maximization: equalizing marginal utility per dollar
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Deriving demand curve from tweaking marginal utility per dollar
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Utility maximization: equalizing marginal utility per dollar
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Marginal utility free response example
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Budget line
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Indifference curves and marginal rate of substitution
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Optimal point on budget line
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Types of indifference curves
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Production decisions and economic profit
Production decisions and economic profit
Production decisions and economic profit
Introduction to production functions
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Total product, marginal product, and average product
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Fixed, variable, and marginal cost
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Marginal cost, average variable cost, and average total cost
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Graphs of MC, AVC and ATC
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Marginal revenue and marginal cost
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Marginal revenue below average total cost
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How costs change when fixed and variable costs change
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Graphical impact of cost changes on marginal and average costs
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Visualizing average costs and marginal costs as slope
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Long-run average total cost curve
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Economies and diseconomies of scale
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Minimum efficient scale and market concentration
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Economic profit vs accounting profit
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Depreciation and opportunity cost of capital
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Long term supply curve and economic profit
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Profit maximization
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Profit maximization worked example
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Shutting down or exiting industry based on price
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Long-run economic profit for perfectly competitive firms
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Long run supply when industry costs aren't constant
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Example on perfect competition
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Forms of competition
Forms of competition
Forms of competition
Introduction to perfect competition
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Economic profit for firms in perfectly competitive markets
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Long-run economic profit for perfectly competitive firms
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Long-run supply curve in constant cost perfectly competitive markets
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Long run supply when industry costs aren't constant
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Example on perfect competition
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Perfect and imperfect competition
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Types of competition and marginal revenue
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Marginal revenue and marginal cost in imperfect competition
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Monopolies vs. perfect competition
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Economic profit for a monopoly
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Monopolist optimizing price: Total revenue
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Monopolist optimizing price: Marginal revenue
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Monopolist optimizing price: Dead weight loss
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Review of revenue and cost graphs for a monopoly
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Optional calculus proof to show that MR has twice slope of demand
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Price discrimination
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Monopoly price discrimination
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Oligopolies and monopolistic competition
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Monopolistic competition and economic profit
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Long run economic profit for monopolistic competition
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Oligopolies, duopolies, collusion, and cartels
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Prisoners' dilemma and Nash equilibrium
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More on Nash equilibrium
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Why parties to cartels cheat
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Game theory of cheating firms
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Factor markets
Factor markets
Factor markets
A firm's marginal product revenue curve
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How many people to hire given the MPR curve
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Introduction to labor markets
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Labor-leisure tradeoff and the labor supply curve
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Adding demand curves
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Changes in labor supply
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Shifts in the demand for labor
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Cost minimizing choice of inputs
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Factor markets worked example
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A monopsonistic market for labour
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Monopsony employers and minimum wages
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Market failure and the role of government
Market failure and the role of government
Market failure and the role of government
Allocative efficiency and marginal benefit
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Negative externalities
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Positive externalities
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Taxes for factoring in negative externalities
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Tragedy of the commons
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Rival and excludable goods
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