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Microeconomics: Core Concepts and Foundations (Chapters 1–5 Study Notes)

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Scarcity and Choice

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

Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency

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

Positive and Normative Analysis

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

Graphs of Two Variables

  • Guided course
    Plotting Points on a Graph
    04:34

Relationships between Variables

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    Drawing and Shifting Curves
    07:33

Interpreting Graphs, Correlation, Causation, and Omitted Variables

  • Guided course
    Interpreting Graphs (Part One)
    03:27
  • Guided course
    Interpreting Graphs (Part Two)
    03:02

The Demand Curve

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    The Basics of Demand
    07:15
  • Guided course
    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
  • Guided course
    Substitute Goods
    04:10
  • Guided course
    Consumer Expectations
    02:18

Movement Along a Demand Curve

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    Shifting Demand - Warning!
    05:29

The Supply Curve

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

Shifts in the Supply Curve

  • Guided course
    Nature
    01:
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    Technology
    01:27
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    Substitutes in Production
    03:02

Movement Along a Supply Curve

  • Guided course
    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
  • Guided course
    Demand Shifts
    06:18

Effects of Surplus

  • Guided course
    Surplus
    03:05

Effects of Shortage

  • Guided course
    Shortage
    02:01

Percentage Change and Price Elasticity of Demand

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    Percentage Change and Price Elasticity of Demand
    09:14
  • Guided course
    Different Answers when Increasing or Decreasing Prices! (Part 1)
    04:34
  • Guided course
    Different Answers when Increasing or Decreasing Prices! (Part 2)
    05:31

Elasticity and the Midpoint Method

  • Guided course
    The Midpoint Method
    10:04

Price Elasticity of Demand on a Graph

  • Guided course
    Price Elasticity of Demand on a Graph
    11:34

Determinants of Price Elasticity of Demand

  • Guided course
    Determinants of Price Elasticity of Demand
    06:12

Total Revenue Test

  • Guided course
    Total Revenue Test
    09:31

Income Elasticity of Demand

  • Guided course
    Income Elasticity of Demand
    10:57

Cross-Price Elasticity of Demand

  • Guided course
    Cross-Price Elasticity of Demand
    07:14

Price Elasticity of Supply

  • Guided course
    Price Elasticity of Supply
    05:38

Price Elasticity of Supply on a Graph

  • Guided course
    Price Elasticity of Supply on a Graph
    03:46

Elasticity Summary

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    Elasticity Summary
    04:06

Price Ceilings, Price Floors, and Black Markets

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