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Principles of Microeconomics: Course Structure, Topics, and Study Guide

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Introduction to Economics

  • Guided course
    Hello!
    00:16

Microeconomics vs. Macroeconomics

  • Guided course
    Definition of Economics:Micro vs. Macro
    02:16

Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency

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

PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency

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

The Demand Curve

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

Shifts in the Demand Curve

  • Guided course
    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

  • Guided course
    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:
  • Guided course
    Technology
    01:27
  • Guided course
    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

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

Supply and Demand: Quantitative Analysis

  • Guided course
    Finding Equilibrium Using Algebra
    05:11
  • Guided course
    Isolating Variables in the Demand Equation
    03:57
  • Guided course
    Finding Equilibrium with Equations and a Graph
    07:22

Consumer Surplus and Willingness to Pay

  • Guided course
    Consumer Surplus in a Small Setting
    14:41
  • Guided course
    Consumer Surplus and Market Demand
    06:08
  • Guided course
    Consumer Surplus
    03:15

Producer Surplus and Willingness to Sell

  • Guided course
    Producer Surplus and Market Supply
    05:24
  • Guided course
    Producer Surplus
    02:55
  • Guided course
    Producer Surplus in a Small Setting
    11:38

Economic Surplus and Efficiency

  • Guided course
    Deadweight Loss and Market Failure
    07:08
  • Guided course
    Economic Surplus
    11:40

Price Ceilings, Price Floors, and Black Markets

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

Introducing Taxes and Tax Incidence

  • Guided course
    Tax Incidence
    03:21
  • Guided course
    Taxes and Tax Incidence
    13:27

Effects of Taxes on a Market

  • Guided course
    Effects of Taxes
    09:45

Percentage Change and Price Elasticity of Demand

  • Guided course
    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

Price Elasticity of Demand on a Graph

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

Elasticity and the Midpoint Method

  • Guided course
    The Midpoint Method
    10:04

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

Total Revenue Along a Linear Demand Curve

  • Guided course
    Total Revenue Along a Linear Demand Curve
    07:13

Cross-Price Elasticity of Demand

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

Income Elasticity of Demand

  • Guided course
    Income Elasticity of Demand
    10:57

Price Elasticity of Supply

  • Guided course
    Price Elasticity of Supply
    05:38

Revenue, Cost, and Profit

  • Guided course
    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

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

Graphing Costs

  • Guided course
    Graphing Cost Curves
    10:54

The Relationship Between Average Cost and Marginal Cost

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

Average Total Cost: Short Run and Long Run

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

Marginal Cost

  • Guided course
    Marginal Cost
    10:48

Introduction to the Four Market Models

  • Guided course
    Four Market Model Summary
    02:25

Characteristics of Perfect Competition

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

Revenue in Perfect Competition

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

Perfect Competition Profit on the Graph

  • Guided course
    Profit on the Graph in Perfect Competition
    13:25

Short Run Shutdown Decision

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

Long Run Entry and Exit Decision

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

Individual Supply Curve in the Short Run and Long Run

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

Market Supply Curve in the Short Run and Long Run

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

Long Run Equilibrium

  • Guided course
    Long Run Equilibrium
    07:04

Perfect Competition and Efficiency

  • Guided course
    Efficiency in Perfect Competition
    06:46

Characteristics of Monopolistic Competition

  • Guided course
    Characteristics of Monopolistic Competition
    05:53
  • Guided course
    Monopolistic Competition Demand Curve
    04:25

Revenue in Monopolistic Competition

  • Guided course
    Monopolistic Competition Revenue
    03:28
  • Guided course
    Monopolistic Competition Marginal Revenue
    07:13

Monopolistic Competition Profit on the Graph

  • Guided course
    Monopolistic Competition Profit on the Graph
    07:07

Monopolistic Competition in the Long Run

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

Efficiency in Monopolistic Competition

  • Guided course
    Monopolistic Competition Productive Efficiency
    03:54
  • Guided course
    Monopolistic Competition Allocative Efficiency
    02:56

Four Market Model Summary: Monopolistic Competition

  • Guided course
    Four Market Model Summary: Monopolistic Competition
    03:30

Characteristics of Oligopoly

  • Guided course
    Characteristics of Oligopoly
    04:45
  • Guided course
    Oligopoly Barriers to Entry
    05:16

One-Time Games and the Prisoner's Dilemma

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

Game Theory and Oligopoly Profit

  • Guided course
    Oligopoly Profit
    06:36
  • Guided course
    Oligopoly Profit
    10:08

Four Market Model Summary: Oligopoly

  • Guided course
    Four Market Model Summary: Oligopoly
    03:39

Characteristics of Monopoly

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

Monopoly Revenue

  • Guided course
    Monopoly Revenue
    03:37
  • Guided course
    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
  • Guided course
    Price Discrimination
    07:45

Antitrust Laws and Government Regulation of Monopolies

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

The Production Function and Marginal Revenue Product

  • Guided course
    The Factors of Production
    02:41
  • Guided course
    Marginal Revenue Product
    10:37
  • Guided course
    Marginal Revenue Product (Value of the Marginal Product of Labor)
    02:47

Demand for Labor in Perfect Competition

  • Guided course
    Demand for Labor in Perfect Competition
    04:33

Shifts in Labor Demand

  • Guided course
    Shifts in Labor Demand:Technological Change (II)
    03:09
  • Guided course
    Shifts in Labor Demand:Output Price
    06:57
  • Guided course
    Shifts in Labor Demand:Technological Change (I)
    03:01

Supply of Labor in Perfect Competition

  • Guided course
    Supply of Labor in Perfect Competition
    03:17
  • Guided course
    Individual Supply Curve of Labor (Backward-Bending Supply Curve)
    04:34

Shifts in Labor Supply

  • Guided course
    Shifts in Labor Supply
    03:47

Differences in Wages

  • Guided course
    Differences in Wages:Efficiency Wages and Superstars
    04:12
  • Guided course
    Differences in Wages:Compensating Differential and Human Capital
    02:39

Unions

  • Guided course
    Labor Unions
    06:50

Other Factors of Production: Land and Capital

  • Guided course
    Other Factors of Production: Capital
    02:08
  • Guided course
    Other Factors of Production: Land
    03:31

Monopsony

  • Guided course
    Monopsony
    07:18
  • Guided course
    Monopsony and Minimum Wage
    03:52

Income Inequality in the USA and Worldwide

  • Guided course
    Income Inequality in the USA and Worldwide
    01:37

Poverty

  • Guided course
    Poverty
    05:02

Polices to Reduce Poverty

  • Guided course
    Policies to Reduce Poverty
    06:15

Lorenz Curve and Gini Coefficient

  • Guided course
    Lorenz Curve and the Gini Coefficient
    11:30

Public Goods: Demand Curve and Optimal Quantity

  • Guided course
    Demand Curve of a Public Good
    08:18
  • Guided course
    Demand Curve of a Private Good
    03:52

Externalities: Social Benefits and Social Costs

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

Public Solutions to Externalities

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

The Free Rider Problem and the Tragedy of the Commons

  • Guided course
    Tragedy of the Commons
    07:34
  • Guided course
    Free Rider Problem
    06:11

Exporting and Importing

  • Guided course
    Low World Price:Import
    06:36
  • Guided course
    Autarky
    04:
  • Guided course
    High World Price:Export
    09:03

Sources of Comparative Advantage

  • Guided course
    Sources of Comparative Advantage
    06:08

Tariffs on Imports

  • Guided course
    Tariffs on Imports
    14:35

Import Quotas and VERs

  • Guided course
    Import Quotas and VERs
    14:08
  • Guided course
    Import Quota
    09:44

Arguments Against International Trade

  • Guided course
    Arguments Against International Trade
    07:50