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Course Learning Outcomes
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1. Overview of Faculty Resources
2. PDF
3. Why It Matters: Economic Thinking
4. Outcome: What Is Economics?
5. Video: Scarcity and Choice
6. Reading: Understanding Economics and Scarcity
7. Video: Resources
8. Reading: The Concept of Opportunity Cost
9. Reading: Labor, Markets, and Trade
10. Reading: Microeconomics and Macroeconomics
11. Outcome: Economic Models
12. Reading: Using Economic Models
13. Outcome: Math in Economics
14. Reading: Purpose of Functions
15. Reading: Solving Simple Equations
16. Outcome: Graphs in Economics
17. Video: Graph Review
18. Reading: Creating and Interpreting Graphs
19. Reading: Interpreting Slope
20. Reading: Types of Graphs
21. Problem Set: Math in Economics
22. Problem Set: Graphs in Economics
23. Putting It Together: Economic Thinking
24. Glossary: Economic Thinking
25. Why It Matters: Choice in a World of Scarcity
26. Outcome: The Cost of Choices
27. Reading: Budget Constraints and Choices
28. Reading: Calculating Opportunity Cost
29. Outcome: The Production Possibilities Frontier
30. Video: Society's Production Possibilities Curve
31. Reading: The Production Possibilities Frontier
32. Reading: Productive Efficiency and Allocative Efficiency
33. Outcome: Economic Rationality
34. Reading: Rationality and Self-Interest
35. Reading: Rationality in Action
36. Outcome: Marginal Analysis
37. Reading: Marginal Analysis
38. Outcome: Positive and Normative Statements
39. Video: Positive and Normative Analysis
40. Reading: Positive and Normative Statements
41. Problem Set: Budget Constraints and Opportunity Cost
42. Problem Set: Marginal Analysis
43. Putting It Together: Choice in a World of Scarcity
44. Glossary: Choice in a World of Scarcity
45. Why It Matters: Supply and Demand
46. Outcome: Economic Systems
47. Reading: Economic Systems
48. Outcome: Demand
49. Reading: What Is Demand?
50. Video: Change in Demand vs. Change in Quantity Demanded
51. Reading: Factors Affecting Demand
52. Worked Example: Shift in Demand
53. Reading: Summary of Factors That Change Demand
54. Simulation: Demand for Food Trucks
55. Self Check: Demand
56. Outcome: Supply
57. Reading: What Is Supply?
58. Reading: Factors Affecting Supply
59. Worked Example: Shift in Supply
60. Reading: Summary of Factors That Change Supply
61. Simulation: Supply of Food Trucks
62. Self Check: Supply
63. Outcome: Equilibrium
64. Reading: Equilibrium, Surplus, and Shortage
65. Video: Market Equilibrium
66. Reading: Changes in Equilibrium
67. Worked Example: Supply and Demand
68. Simulation: Food Trucks and Changes in Equilibrium
69. Self Check: Equilibrium
70. Problem Set: Supply and Demand 1
71. Problem Set: Supply and Demand 2
72. Problem Set: Supply and Demand 3
73. Putting It Together: Supply and Demand
74. Glossary: Supply and Demand
75. Why It Matters: Elasticity
76. Outcome: Explaining Elasticity
77. Reading: Introduction to Elasticity
78. Video: Price Elasticity of Demand
79. Reading: Examples of Elastic and Inelastic Demand
80. Outcome: Calculating Price Elasticity
81. Reading: Calculating Percentage Changes and Growth Rates
82. Reading: Calculating Price Elasticities
83. Reading: Three Categories of Elasticity
84. Reading: Polar Cases of Elasticity
85. Outcome: Other Elasticities
86. Reading: Other Types of Elasticity
87. Worked Example: Cross-Price Elasticity of Demand
88. Self Check: Other Elasticities
89. Outcome: Price Elasticity and Total Revenue
90. Reading: Elasticity and Total Revenue
91. Reading: Elasticity, Costs, and Customers
92. Problem Set: Elasticity
93. Glossary: Elasticity
94. Putting It Together: Elasticity
95. Why It Matters: Government Action
96. Outcome: Price Ceilings
97. Reading: Price Ceilings
98. Outcome: Price Floors
99. Reading: Price Floors
100. Case in Point: Organic Foods
101. Self Check: Impact of Binding Price Ceilings or Price Floors
102. Outcome: Tax Incidence
103. Reading: Tax Incidence
104. Outcome: Taxation
105. Reading: Financing Government
106. Reading: Types of Taxes
107. Worked Example: Price Controls
108. Reading: Taxation
109. Putting It Together: Government Action
110. Glossary: Government Action
111. Why It Matters: Surplus
112. Outcome: Consumer, Producer, and Total Surplus
113. Reading: Surplus
114. Outcome: Surplus and Inefficiency
115. Reading: Inefficiency of Price Floors and Price Ceilings
116. Putting It Together: Surplus
117. Glossary: Surplus
118. Why It Matters: Utility
119. Outcome: Defining Utility
120. Reading: Consumer Choices
121. Reading: Consumption Choices
122. Reading: Choosing with Marginal Utility
123. Video: What is Marginal Utility?
124. Outcome: Marginal Utility
125. Reading: Marginal Utility
126. Outcome: The Utility Maximizing Rule
127. Reading: A Tool for Maximizing Utility
128. Video: The Optimal Purchase Rule
129. Simulation: Maximizing Utility
130. Self Check: The Utility Maximizing Rule
131. Outcome: How Utility Changes
132. Reading: The Foundations of Demand Curve
133. Reading: Income Changes and Consumption Choices
134. Outcome: Behavioral Economics
135. Reading: Behavioral Economics: An Alternative Viewpoint
136. Putting It Together: Utility
137. Glossary: Utility
138. Why It Matters: Production
139. Outcome: Defining Production
140. Reading: Cost and Industry Structure
141. Reading: Factors of Production
142. Outcome: Marginal, Average, and Total Product
143. Reading: Production Choices and Costs
144. Outcome: Explicit and Implicit Costs
145. Reading: Explicit and Implicit Costs
146. Outcome: Marginal, Average, and Total Cost
147. Reading: Fixed and Variable Costs
148. Reading: The Structure of Costs in the Short Run
149. Outcome: Sunk Costs
150. Reading: Sunk Costs and Alternative Measures of Cost
151. Outcome: The Short Run vs. The Long Run
152. Reading: Short Run vs. Long Run Costs
153. Reading: Short Run and Long Run Average Total Costs
154. Outcome: Long Run Costs and Economies of Scale
155. Reading: Long Run Costs
156. Reading: Economies of Scale
157. Putting It Together: Production
158. Glossary: Production
159. Why It Matters: Perfect Competition
160. Outcome: Defining Perfect Competition
161. Reading: Perfect Competition
162. Outcome: Perfectly Competitive Firms and Industries
163. Reading: Perfect Competition: A Model
164. Reading: Price and Revenue in a Perfectly Competitive Industry and Firm
165. Outcome: Costs and Revenue in a Perfectly Competitive Market
166. Reading: How Perfectly Competitive Firms Make Output Decisions
167. Outcome: Profit and Losses in a Perfectly Competitive Market
168. Reading: Profits and Losses with the Average Cost Curve
169. Simulation: Maximizing Profit
170. Outcome: The Shutdown Point
171. Reading: The Shutdown Point
172. Outcome: Entry and Exit Decisions
173. Reading: Entry and Exit Decisions in the Long Run
174. Outcome: Efficiency in Perfectly Competitive Markets
175. Reading: Efficiency in Perfectly Competitive Markets
176. Putting It Together: Perfect Competition
177. Glossary: Perfect Competition
178. Why It Matters: Monopoly
179. Outcome: Introduction to Monopolies
180. Reading: Introduction to Monopolies
181. Outcome: Barriers to Entry
182. Reading: How Monopolies Form: Barriers to Entry
183. Outcome: Revenue, Costs, Profit and Losses in Monopolies
184. Reading: Choosing Output and Price
185. Reading: Illustrating Monopoly Profits
186. Outcome: Inefficiencies in Monopolies
187. Reading: The Inefficiency of Monopoly
188. Reading: Monopolies and Deadweight Loss
189. Reading: Price Discrimination
190. Outcome: Controlling Monopolies
191. Reading: Monopoly and Antitrust Policy
192. Reading: Corporate Mergers
193. Reading: Regulating Anticompetitive Behavior
194. Reading: Regulating Natural Monopolies
195. Reading: The Great Deregulation Experiment
196. Putting It Together: Monopoly
197. Glossary: Monopoly
198. Why It Matters: Monopolistically Competitive Industries
199. Outcome: Monopolistically Competitive Industries
200. Reading: Introducing Monopolistic Competition
201. Reading: Monopolistic Competition
202. Outcome: Calculating Cost and Revenue
203. Reading: Choosing Price and Quantity
204. Outcome: Short Run and Long Run Equilibrium
205. Reading: Monopolistic Competitors and Entry
206. Outcome: Advertising
207. Reading: Advertising and Monopolistic Competition
208. Outcome: Inefficiency of Monopolistic Competition
209. Reading: Monopolistic Competition and Efficiency
210. Putting It Together: Monopolistically Competitive Industries
211. Glossary: Monopolistic Competition
212. Why It Matters: Oligopoly
213. Outcome: Introduction to Oligopolies
214. Reading: Introducing Oligopolies
215. Reading: Why do Oligopolies Exist?
216. Reading: Competition Among the Few
217. Reading: Oligopoly Models
218. Outcome: Collusion
219. Reading: Collusion or Competition?
220. Reading: The Collusion Model
221. Outcome: Game Theory
222. Reading: Prisoner's Dilemma
223. Reading: Game Theory
224. Outcome: Inefficiency in Oligopolies
225. Reading: Tradeoffs of Imperfect Competition
226. Putting It Together: Oligopoly
227. Glossary: Oligopolies
228. Why It Matters: Public Goods
229. Outcome: Defining Public Goods
230. Reading: Positive Externalities and Public Goods
231. Reading: Public Goods
232. Outcome: Free Riders
233. Reading: Free Riders
234. Outcome: Positive and Negative Externalities
235. Reading: Positive Externalities and Technology
236. Reading: Introduction to Externalities and Pollution
237. Video: Pollution in China
238. Video: Externalities
239. Reading: Market Failure
240. Outcome: Government Involvement and Externalities
241. Reading: Command-and-Control Regulation
242. Reading: The Benefits and Costs of U.S. Environmental Laws
243. Reading: How Governments Can Encourage Innovation
244. Outcome: Market-Based Solutions
245. Reading: Market-Oriented Environmental Tools
246. Reading: Market-Oriented Environmental Tools: Effectiveness and Application
247. Putting It Together: Public Goods
248. Glossary: Public Goods
249. Why It Matters: Globalization, Trade and Finance
250. Outcome: Comparative and Absolute Advantage
251. Reading: Introduction to International Trade
252. Reading: Absolute and Comparative Advantage
253. Reading: Absolute Advantage
254. Reading: Intra-Industry Trade
255. Reading: Reducing Barriers to Trade
256. Outcome: Impact of International Trade
257. Reading: Demand and Supply Analysis of International Trade
258. Outcome: Impact of Government Regulations
259. Reading: Restrictions on International Trade
260. Reading: Justifications for Trade Restriction
261. Case in Point: Outsourcing, Insourcing, and Employment
262. Reading: The Tradeoffs of Trade Policy
263. Outcome: Trade Policy and Agreements
264. Reading: How Trade Policy Is Enacted
265. Videos: Trade Agreements
266. Self Check: Trade Policy and Agreements
267. Outcome: Exchange Rates and International Finance
268. Reading: Exchange Rates and International Capital Flows
269. Reading: The Foreign Exchange Market
270. Reading: Strengthening and Weakening Currency
271. Reading: Demand and Supply Shifts in Foreign Exchange Markets
272. Outcome: The Balance of Trade
273. Reading: Macroeconomic Effects of Exchange Rates
274. Reading: Exchange-Rate Policies
275. Outcome: Globalization
276. Reading: Introduction to Globalization
277. Reading: Trade Winds
278. Simulation: International Trade
279. Self Check: Globalization
280. Putting It Together: Globalization, Trade and Finance
281. Glossary: International Trade
282. Why It Matters: Income Distribution
283. Outcome: Factors of Production
284. Reading: The Demand for Labor
285. Case in Point: Computer Technology Increases the Demand for Some Workers and Reduces the Demand for Others
286. Reading: The Supply of Labor
287. Case in Point: An Airline Pilot's Lament
288. Reading: Labor Markets at Work
289. Case in Point: Technology and the Wage Gap
290. Reading: Time and Interest Rates
291. Reading: Interest Rates and Capital
292. Reading: Loanable Funds
293. Reading: Natural Resources and Conservation
294. Outcome: Competition and Wages
295. Reading: Monopsony
296. Reading: Monopoly and Monopsony: A Comparison
297. Reading: Monopsony and the Minimum Wage
298. Reading: Price Setters on the Supply Side
299. Simulation: Income Distribution
300. Self Check: Competition and Wages
301. Outcome: Measuring and Understanding the Distribution of Income
302. Reading: Poverty and Economic Inequality
303. Reading: The Poverty Trap
304. Reading: The Safety Net
305. Reading: Explaining Inequality
306. Reading: Measuring Income Inequality
307. Reading: Government Policies to Reduce Income Inequality
308. Glossary: Income Distribution
309. Putting It Together: Income Distribution
310. Welcome
311. Textbook: Important
312. Course Schedule and Reading List
313. About the Discussions
314. Answers to FAQs
315. Khan Academy and External Links
316. Textbook Tips
317. Grade Determination
318. About this Module
319. Khan Academy: Supply and Demand Explained
320. Cheat Sheet
321. Information Items
322. Cost Functions
323. Information Items
324. Background on Sales taxes
325. Keep These Things In Mind
326. The Shut Down Decision
327. About This Module
328. Khan Academy: Monopoly Explained
329. Some things to keep in mind
330. Information Items
331. Cheat Sheet: How Many Workers Should Be Hired?
332. Information Items
333. Khan Academy: Taxes Explained
334. Your carbon footprint!!
335. Information Items
336. Khan Academy: Foreign Exchange and Trade Explained
337. Comparative Advantage In Trade Explained
338. Some help for the exam
Attributions
References
Watch the following video to review positive and negative externalities.
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Microeconomics Copyright © by Lumen Learning is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.