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Comprehensive Microeconomics Study Notes: Core Principles, Models, and Applications

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Introduction to Economics

  • Guided course
    Hello!
    00:16

People Are Rational

  • Guided course
    People Are Rational
    01:32

People Respond to Incentives

  • Guided course
    Economic Incentives
    01:40

Scarcity and Choice

  • Guided course
    Defining Economic Terms:Scarcity, Trade-offs, and Opportunity Costs
    02:39

Positive and Normative Analysis

  • Guided course
    Identifying Statements
    02:48
  • Guided course
    Positive Statements vs. Normative Statements
    04:35

Marginal Analysis

  • Guided course
    Marginal Analysis
    09:36

Factors of Production

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    Human Capital and Entrepreneurship
    02:08
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    Land, Labor, and Physical Capital
    03:09

Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency

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    Understanding the PPF
    06:23
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    PPF - Attainable and Efficient
    04:48

PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency

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    Allocative Efficiency with Marginal Analysis
    08:42
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    Increasing Marginal Opportunity Costs
    04:38

Competitive Markets

  • Guided course
    Introduction to Supply and Demand
    07:03

The Demand Curve

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    The Basics of Demand
    07:15
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    Individual Demand and Market Demand
    06:08

Shifts in the Demand Curve

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    Consumer Income:Normal Goods and Inferior Goods
    01:48
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    Substitute Goods
    04:10
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    Consumer Expectations
    02:18

Movement Along a Demand Curve

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    Shifting Demand - Warning!
    05:29

The Supply Curve

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    Individual Supply and Market Supply
    06:04
  • Guided course
    The Basics of Supply
    03:53

Shifts in the Supply Curve

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    Nature
    01:
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    Technology
    01:27
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    Substitutes in Production
    03:02

Movement Along a Supply Curve

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    Shifting Supply - Warning!
    03:08

Market Equilibrium

  • Guided course
    Overview of Supply and Demand Shifts
    04:07

Using the Supply and Demand Curves to Find Equilibrium

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    Equilibrium
    04:19
  • Guided course
    Results of Both Shifting
    06:34
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    Demand Shifts
    06:18

Price Elasticity of Demand on a Graph

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    Price Elasticity of Demand on a Graph
    11:34

Determinants of Price Elasticity of Demand

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    Determinants of Price Elasticity of Demand
    06:12

Revenue, Cost, and Profit

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    Explicit and Implicit Cost
    05:51
  • Guided course
    Fixed Costs and Variable Costs; Short Run and Long Run
    07:54
  • Guided course
    Accounting Profit and Economic Profit
    01:59

The Production Function and Diminishing Returns

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    The Production Function and Diminishing Returns
    07:45
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    Calculating Fixed Cost, Variable Cost, and Average Total Cost
    05:09

Marginal Cost

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    Marginal Cost
    10:48

The Relationship Between Average Cost and Marginal Cost

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    Average Cost and Marginal Cost
    06:38
  • Guided course
    Patterns of MC, AFC, AVC, and ATC curves
    08:56

Graphing Costs

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    Graphing Cost Curves
    10:54

Average Total Cost: Short Run and Long Run

  • Guided course
    ATC in the Short Run and Long Run
    13:13

Introduction to the Four Market Models

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    Four Market Model Summary
    02:25

Characteristics of Perfect Competition

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    Characteristics of Perfect Competition
    02:29
  • Guided course
    Market Demand and Individual Firm Demand
    03:57

Revenue in Perfect Competition

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    Revenue in Perfect Competition
    06:20
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    Calculating Profit from a Table
    08:15

Perfect Competition Profit on the Graph

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    Profit on the Graph in Perfect Competition
    13:25

Short Run Shutdown Decision

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    Short Run Shutdown Decision (continued)
    07:54
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    Short Run Shutdown Decision on the Graph
    07:05
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    Short Run Shutdown Decision
    03:28

Long Run Entry and Exit Decision

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    Long Run Exit/Enter Decision (continued)
    06:04
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    Long Run Exit/Enter Decision
    02:39
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    Long Run Exit/Enter Decision on the Graph
    09:32

Individual Supply Curve in the Short Run and Long Run

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    Individual Firm Supply Curve in the Long Run
    03:12
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    Individual Firm Supply Curve in the Short Run
    03:19

Market Supply Curve in the Short Run and Long Run

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    Market Supply Curve in the Long Run
    06:07
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    Market Supply Curve in the Short Run
    03:02

Long Run Equilibrium

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    Long Run Equilibrium
    07:04

Perfect Competition and Efficiency

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    Efficiency in Perfect Competition
    06:46

Characteristics of Monopoly

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    Monopoly Barriers to Entry
    06:29
  • Guided course
    Characteristics of Monopoly
    02:48
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    Monopoly Demand Curve
    04:17

Monopoly Revenue

  • Guided course
    Monopoly Revenue
    03:37
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    Monopoly and Marginal Revenue
    06:43

Monopoly Profit on the Graph

  • Guided course
    Monopoly Profit on the Graph
    07:41

Monopoly Efficiency and Deadweight Loss

  • Guided course
    Monopoly Efficiency and Deadweight Loss
    12:19

Price Discrimination

  • Guided course
    Price Discrimination
    04:05
  • Guided course
    Perfect Price Discrimination
    06:11
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    Price Discrimination
    07:45

Antitrust Laws and Government Regulation of Monopolies

  • Guided course
    Antitrust Laws
    03:58
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    Monopoly:Socially Optimal Price and Fair-Return Price
    07:21

Four Market Model Summary: Monopoly

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    Four Market Model Summary: Monopoly
    04:34

Characteristics of Monopolistic Competition

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    Characteristics of Monopolistic Competition
    05:53
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    Monopolistic Competition Demand Curve
    04:25

Revenue in Monopolistic Competition

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    Monopolistic Competition Revenue
    03:28
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    Monopolistic Competition Marginal Revenue
    07:13

Monopolistic Competition Profit on the Graph

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    Monopolistic Competition Profit on the Graph
    07:07

Monopolistic Competition in the Long Run

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    Monopolistic Competition in the Long Run
    09:47
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    How Companies Stay Profitable
    01:33

Efficiency in Monopolistic Competition

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    Monopolistic Competition Productive Efficiency
    03:54
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    Monopolistic Competition Allocative Efficiency
    02:56

Four Market Model Summary: Monopolistic Competition

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    Four Market Model Summary: Monopolistic Competition
    03:30

Characteristics of Oligopoly

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    Characteristics of Oligopoly
    04:45
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    Oligopoly Barriers to Entry
    05:16

One-Time Games and the Prisoner's Dilemma

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    Game Theory, One-Time Games, and the Prisoner's Dilemma
    05:28
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    One-Time Games:Finding Dominant Strategies and Nash Equilibrium with the "Check and X"Method
    06:03
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    Dominant Strategy and the Nash Equilibrium
    06:29

Game Theory and Oligopoly Profit

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    Oligopoly Profit
    06:36
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    Oligopoly Profit
    10:08

Repeated Games

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    Repeated Games
    02:28

Kinked-Demand Theory

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    Oligopoly:Kinked Demand Theory
    13:04

Four Market Model Summary: Oligopoly

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    Four Market Model Summary: Oligopoly
    03:39

Externalities: Social Benefits and Social Costs

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    Externalities on the Graph
    14:23
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    Negative Externality and Positive Externality
    10:54

Public Solutions to Externalities

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    Public Solutions to Externalities:Quantity Limits
    04:07
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    Public Solutions to Externalities:Command-and-Control Policies and Corrective Pigovian Taxes and Subsidies
    16:25

Private Solutions to Externalities: The Coase Theorem

  • Guided course
    The Coase Theorem
    09:03

Price Ceilings, Price Floors, and Black Markets

  • Guided course
    Price Ceilings
    07:07
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    Price Floors and Black Markets
    08:03
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    Price Floors
    02:18

Subsidies

  • Guided course
    Subsidies
    09:29

Asymmetric Information: Adverse Selection and Moral Hazard

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    Asymmetric Information
    02:19
  • Guided course
    Moral Hazard
    04:03
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    Adverse Selection
    04:42

Solutions to Informational Problems

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    Solutions to Informational Problems:Screening
    05:57
  • Guided course
    Solutions to Informational Problems:Signaling
    03:06