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Microeconomics
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About course
Course covering the introduction to microeconomics section from supply and demand to competition
Syllabus
Section 1. Supply, Demand and Market Equilibrium
Introduction to Economics
Law of Demand
Change in Expected Future Prices and Demand
Price of Related Products and Demand
Changes in Income, Population, or Preferences
Normal and Inferior Goods
Inferior Goods Clarification
Law of Supply
Factors Affecting Supply
Long Term Supply Curve
Market Equilibrium
Changes in Market Equilibrium
Section 2. Elasticity
Price Elasticity of Demand
More on Elasticity of Demand
Perfect Inelasticity and Perfect Elasticity of Demand
Constant Unit Elasticity
Total Revenue and Elasticity
More on Total Revenue and Elasticity
Cross Elasticity of Demand
Elasticity of Supply
Elasticity and Strange Percent Changes
Section 3. Consumer and Product Surplus
Demand Curve as Marginal Benefit Curve
Consumer Surplus Introduction
Total Consumer Surplus as Area
Producer Surplus
Rent Control and Deadweight Loss
Minimum Wage and Price Floors
Taxation and Dead Weight Loss
Percentage Tax on Hamburgers
Taxes and Perfectly Inelastic Demand
Taxes and Perfectly Elastic Demand
Negative Externalities
Taxes for Factoring in Negative Externalities
Positive Externalities
Tragedy of the Commons
Section 4. Scarcity, Preferences and Opportunity Cost
Production Possibilities Frontier
Opportunity Cost
Increasing Opportunity Cost
Allocative Efficiency and Marginal Benefit
Economic Growth through Investment
Comparative Advantage Specialization and Gains from Trade
Comparative Advantage and Absolute Advantage
Marginal Utility
Equalizing Marginal Utility per Dollar Spent
Deriving Demand Curve from Tweaking Marginal Utility per Dollar
Budget Line
Indifference Curves and Marginal Rate of Substitution
Optimal Point on Budget Line
Types of Indifference Curves
Section 5. Product Decisions and Economic Profit
Economic Profit vs Accounting Profit
Depreciation and Opportunity Cost of Capital
Marginal Cost and Average Total Cost
Marginal Revenue and Marginal Cost
Marginal Revenue Below Average Total Cost
Long Term Supply Curve and Economic Profit
Fixed, Variable, and Marginal Cost
Visualizing Average Costs and Marginal Costs as Slope
A Firm's Marginal Product Revenue Curve
How Many People to Hire Given the MPR curve
Adding Demand Curves
First Degree Price Discrimination
Section 6. Competition
Perfect Competition
Monopoly Basics
Monopolist Optimizing Price (part 1)- Total Revenue
Monopolist Optimizing Price (part 2)- Marginal Revenue
Monopolist Optimizing Price (part 3)- Dead Weight Loss
Optional Calculus Proof to Show that MR has Twice Slope of Demand
Review of Revenue and Cost Graphs for a Monopoly
Oligopolies and Monopolisitc Competition
Monopolistic Competition and Economic Profit
Oligopolies, Duopolies, Collusion, and Cartels
Section 7. Game Theory and Nash Equilibrium
Prisoners' Dilemma and Nash Equilibrium
More on Nash Equilibrium
Why Parties to Cartels Cheat
Game Theory of Cheating Firms
Circular Flow of Income and Expenditures
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