Course: Microeconomics: The Power of Markets
Modules:
The Power of Markets: Introduction, 1.1.1 Opportunity Cost: Introduction, 1.1.2 Opportunity Cost: The Cost of Education, 1.1.3 Opportunity Cost: Numeric Example 1, 1.1.4 Opportunity Cost: Numeric Example 2, 1.1.5 Opportunity Cost: Numeric Example3, 1.1.6 Opportunity Cost: Numeric Example 4, 1.2.1 Scarcity: Introduction, 1.2.2 Production Possibilities Frontier: Definition, 1.2.3 Allocative Efficiency: Defining Marginal Cost and Marginal Benefit, 1.2.4 Allocative Efficiency: When Marginal Cost Equals Marginal Benefit, 1.2.5 Production Possibilities Frontier: Graphical Approach, 1.2.6 Production Possibilities Frontier: Numerical Example, 1.2.7 Production Possibilities Frontier: Understanding the Slope, 1.2.8 Production Possibilities Frontier: Modeling Technological Change and Growth, 1.2.9 Allocative Efficiency: Graphical Approach 1, 1.2.10 Allocative Efficiency: Graphical Approach 2
2.1.1 Markets and Trade: Introduction, 2.2.1 Comparative Advantage: Numerical Example 1 - Set up, 2.2.2 Comparative Advantage: Numerical Example 2 - Individual PPFs, 2.2.3 Comparative Advantage: Numerical Example 3 - Joint PPF, 2.2.4 Comparative Advantage: Numerical Example 4 - Joint PPF Completed, 2.3.2 Comparative Advantage: Definition, 2.2.5 Comparative Advantage: Numerical Example 5 - Gains from Specialization, 2.2.6 Comparative Advantage: Numerical Example 6, 2.2.7 Comparative Advantage: Numerical Example 7, 2.3.1 Absolute Advantage: Definition, 2.4.1 Gaining from Specialization Through Trade, 2.4.2 Gaining from Specialization: The Consumption Possibilities Frontier, 2.4.3 Gaining from Specialization: General Graphical Approach, 2.4.4 Gaining from Specialization: Imports and Exports
3.1.1 Supply & Demand: Introduction, 3.1.2 The Demand Curve, 3.1.3 Shifts of Demand: Part 1, 3.1.4 Shifts of Demand: Part 2, 3.1.5 The Supply Curve, 3.1.6 Shifts of Supply: Part 1, 3.1.7 Shifts of Supply: Part 2, 3.1.8 Market Equilibrium: Definition, 3.1.9 Market Equilibrium: Understanding Who Buys and Who Sells, 3.1.10 The Invisible Hand: Part 1, 3.1.11 The Invisible Hand: Part 2, 3.1.12 Changes in Demand: Effect on Market Equilibrium, 3.1.13 Changes in Supply: Effect on Market Equilibrium, 3.1.14 Simultaneous Changes in Demand & Supply: Effect on Market Equilibrium, 3.1.15 Supply & Demand: Conclusion
4.1.1 Elasticity: Introduction, 4.1.2 Elasticity of Demand, 4.1.3 What Affects Elasticity of Demand, 4.1.4 Perfectly Inelastic and Perfectly Elastic Demand, 4.1.5 Elasticity Along a Straight Line Demand Curve, 4.1.6 Elasticity and Revenue: Part 1, 4.1.7 Elasticity and Revenue: Part 2, 4.1.8 Unit Elastic Demand Curve, 4.1.9 Cross Price Elasticity: Complements vs. Substitutes, 4.1.10 Income Elasticity: Normal vs. Inferior Goods, 4.1.11 Elasticity of Supply, 4.1.12 Elasticity: Summary, 4.2.1 Efficiency & Equity: Introduction, 4.2.2 Consumer Surplus, 4.2.3 Producer Surplus, 4.2.4 Maximizing Total Surplus, 4.2.5 T.S. at a Quantity Greater Than Equilibrium Quantity, 4.2.6 T.S. at a Quantity Smaller Than Equilibrium Quantity, 4.2.7 Efficiency & Equity: Conclusion, 4.2.8 Price Ceiling, 4.2.9 Price Floors: The Case of Minimum Wage, 4.2.10 Calculating Total Surplus: Numerical Example, 4.2.11 Price Ceilings: A Numerical Example
5.1.1 Government Intervention: Introduction, 5.1.2 Modeling a Tax, 5.1.3 Modeling a Tax: Graphically Interpretation, 5.1.4 Consequence of a Tax on Consumer and Producer Surplus, 5.1.5 Consequence of a Tax on Total Surplus, 5.1.6 Dead Weight Loss, 5.1.7 Tax Incidence, 5.1.8 Tax in Extreme Cases of Demand Elasticity, 5.1.9 Tax in Extreme Cases of Elasticity of Supply, 5.1.10 Taxes: Summary, 5.1.11 Modeling a Subsidy, 5.1.12 Consequence of a Subsidy on Total Surplus, 5.1.13 Subsidy: Summary, 5.1.14 Taxes: Numerical Example Part 1, 5.1.15 Taxes: Numerical Example Part 2, The Power of Markets: Conclusion