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This topic introduces key concepts that form the foundation of much of microeconomic analysis. The material ranges from a discussion of model-building as a way to simplify complex relationships among economic variables to definitions and descriptions of key concepts such as scarcity, efficiency and inefficiency, opportunity cost, comparative advantage and the gains from trade.
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In this topic, students will be introduced to monopoly. They’ll learn what a monopoly is, how it differs from perfect competition and what conditions give rise to it. They’ll also learn how monopolists decide on the profit-maximizing level of output and price. The social costs and benefits of monopoly will also be covered. In addition to monopoly, the topic will cover price discrimination.
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This topic covers the analysis of a firm’s costs in the short and long run. It explains the important difference between accounting and economic costs (and how that affects the definition of accounting and economic profits). It also makes the distinction between fixed and variable costs.
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This topic presents an analysis of firm behavior under perfect competition. It begins by identifying the requirements for perfect competition. It then covers the definitions and meaning of costs in the short and long run, describes the firm’s profit-maximizing output decision and its entry-exit decisions. It ends with a discussion of the efficiency implications of perfect competition.
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An analysis of how the private and public sectors interact, the role of taxes and how the decisions regarding their disposition are made, as well as the role of special interests and voting procedures.
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This topic covers the basics of demand and supply for a principles of microeconomics course. Students will learn about the determinants of market demand and market supply for a good or service. It enables students to employ an analytical tool in expressing the potential impacts of changes in market conditions on the consumers and sellers of a good or service. It provides the basic tools to help students understand the impacts of policies that affect various economic units.
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This topic presents an introduction to the economics of US healthcare, with a focus on the major players including consumers, providers, private insurance, and government. It covers the challenges and opportunities for the US healthcare system including quality, costs, and access. An application of supply and demand analysis to healthcare markets is discussed. It compares U.S. health outcomes to those of other countries. Students are introduced to various data sources on US and global healthcare.
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Principles of Microeconomics is an introductory undergraduate course that teaches the fundamentals of microeconomics. This course introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Students will also be introduced to the use of microeconomic applications to address problems in current economic policy throughout the semester.
- Subject:
- Economics
- Social Science
- Material Type:
- Full Course
- Provider:
- M.I.T.
- Provider Set:
- M.I.T. OpenCourseWare
- Author:
- Jonathan Gruber
- Date Added:
- 01/01/2011
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Principles of Economics covers scope and sequence requirements for a two-semester introductory economics course. The authors take a balanced approach to micro- and macroeconomics, to both Keynesian and classical views, and to the theory and application of economics concepts. The text also includes many current examples, which are handled in a politically equitable way.
- Subject:
- Economics
- Social Science
- Material Type:
- Textbook
- Provider:
- OpenOregon
- Author:
- Benjamin Wilson
- Erik Dean
- Justin Elardo
- Mitch Green
- Sebastian Berger
- Date Added:
- 05/22/2019
Unrestricted Use
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Principles of Microeconomics for AP Courses covers the scope and sequence for a one-semester Advance Placement Microeconomics course. The book is on the example textbook list for the AP course here. The text also includes many current examples, including; the Keystone Pipeline, Occupy Wall Street, and debates over the minimum wage.
- Subject:
- Economics
- Social Science
- Material Type:
- Textbook
- Provider:
- Rice University
- Provider Set:
- OpenStax College
- Author:
- Amyaz Moledina
- Andres Jauregui
- Craig Richardson
- Cynthia Gamez
- Dan MacDonald
- David Shapiro
- Diane Keenan
- Eric Dodge
- Ralph Sonenshine
- Steven Greenlaw
- Timothy Taylor
- Date Added:
- 08/01/2015
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Examines alternative economic, political, and social perspectives of property rights and their policy and planning implications. Focuses on institutional and governance structures, power and control mechanisms, distributional consequences of different property rights arrangements, and problems of incomplete contracts as presented in theory and practice. Deals with property-rights issues related to two or more of the following: land, natural resources, infrastructure, or industrial organization.
- Subject:
- Economics
- Law
- Political Science
- Social Science
- Material Type:
- Full Course
- Provider:
- M.I.T.
- Provider Set:
- M.I.T. OpenCourseWare
- Author:
- Kim, Annette Miae
- Date Added:
- 01/01/2005
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This course covers theory and evidence on government taxation policy. Topics include tax incidence, optimal tax theory, the effect of taxation on labor supply and savings, taxation and corporate behavior, and tax expenditure policy.
- Subject:
- Business and Finance
- Economics
- Finance
- Social Science
- Material Type:
- Full Course
- Provider:
- M.I.T.
- Provider Set:
- M.I.T. OpenCourseWare
- Author:
- Ivn Werning
- James Poterba
- Date Added:
- 01/01/2012
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Theory and evidence on government expenditure policy. Topics include the theory of public goods; education; state and local public goods; political economy; redistribution and welfare policy; social insurance programs such as social security and unemployment insurance; and health care policy.
- Subject:
- Economics
- Social Science
- Material Type:
- Full Course
- Provider:
- M.I.T.
- Provider Set:
- M.I.T. OpenCourseWare
- Author:
- Diamond, Peter
- Date Added:
- 01/01/2004