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IMPORTANT NOTICE
Course Learning Outcomes
1. Request Access
2. I Need Help
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. Putting It Together: Economic Thinking
22. Glossary: Economic Thinking
23. Why It Matters: Choice in a World of Scarcity
24. Outcome: The Cost of Choices
25. Reading: Budget Constraints and Choices
26. Reading: Calculating Opportunity Cost
27. Outcome: The Production Possibilities Frontier
28. Video: Society's Production Possibilities Curve
29. Reading: The Production Possibilities Frontier
30. Reading: Productive Efficiency and Allocative Efficiency
31. Outcome: Economic Rationality
32. Reading: Rationality and Self-Interest
33. Reading: Rationality in Action
34. Outcome: Marginal Analysis
35. Reading: Marginal Analysis
36. Outcome: Positive and Normative Statements
37. Video: Positive and Normative Analysis
38. Reading: Positive and Normative Statements
39. Putting It Together: Choice in a World of Scarcity
40. Glossary: Choice in a World of Scarcity
41. Discussion: Is Economics a Science?
42. Why It Matters: Supply and Demand
43. Outcome: Economic Systems
44. Reading: Economic Systems
45. Outcome: Demand
46. Reading: What Is Demand?
47. Video: Change in Demand vs. Change in Quantity Demanded
48. Reading: Factors Affecting Demand
49. Worked Example: Shift in Demand
50. Reading: Summary of Factors That Change Demand
51. Simulation: Demand for Food Trucks
52. Self Check: Demand
53. Outcome: Supply
54. Reading: What Is Supply?
55. Reading: Factors Affecting Supply
56. Worked Example: Shift in Supply
57. Reading: Summary of Factors That Change Supply
58. Simulation: Supply of Food Trucks
59. Self Check: Supply
60. Outcome: Equilibrium
61. Reading: Equilibrium, Surplus, and Shortage
62. Video: Market Equilibrium
63. Reading: Changes in Equilibrium
64. Worked Example: Supply and Demand
65. Simulation: Food Trucks and Changes in Equilibrium
66. Self Check: Equilibrium
67. Putting It Together: Supply and Demand
68. Glossary: Supply and Demand
69. Discussion: Supply and Demand
70. Why It Matters: Elasticity
71. Outcome: Explaining Elasticity
72. Reading: Introduction to Elasticity
73. Video: Price Elasticity of Demand
74. Reading: Examples of Elastic and Inelastic Demand
75. Outcome: Calculating Price Elasticity
76. Reading: Calculating Percentage Changes and Growth Rates
77. Reading: Calculating Price Elasticities
78. Reading: Three Categories of Elasticity
79. Reading: Polar Cases of Elasticity
80. Reading: Other Types of Elasticity
81. Outcome: Other Elasticities
82. Worked Example: Cross-Price Elasticity of Demand
83. Self Check: Other Elasticities
84. Outcome: Price Elasticity and Total Revenue
85. Reading: Elasticity and Total Revenue
86. Reading: Elasticity, Costs, and Customers
87. Putting It Together: Elasticity
88. Glossary: Elasticity
89. Discussion: Price Elasticity of Demand
90. Why It Matters: Government Action
91. Outcome: Price Ceilings
92. Reading: Price Ceilings
93. Outcome: Price Floors
94. Reading: Price Floors
95. Case in Point: Organic Foods
96. Self Check: Impact of Binding Price Ceilings or Price Floors
97. Outcome: Tax Incidence
98. Reading: Tax Incidence
99. Outcome: Taxation
100. Reading: Financing Government
101. Reading: Types of Taxes
102. Worked Example: Price Controls
103. Reading: Taxation
104. Putting It Together: Government Action
105. Glossary: Government Action
106. Discussion: Junk Food and Government Action
107. Why It Matters: Surplus
108. Outcome: Consumer, Producer, and Total Surplus
109. Reading: Surplus
110. Outcome: Surplus and Inefficiency
111. Reading: Inefficiency of Price Floors and Price Ceilings
112. Glossary: Surplus
113. Putting It Together: Surplus
114. Discussion: Efficiency of Free Markets
115. Why It Matters: Utility
116. Outcome: Defining Utility
117. Reading: Consumer Choices
118. Reading: Consumption Choices
119. Reading: Choosing with Marginal Utility
120. Video: What is Marginal Utility?
121. Outcome: Marginal Utility
122. Reading: Marginal Utility
123. Outcome: The Utility Maximizing Rule
124. Reading: A Tool for Maximizing Utility
125. Video: The Optimal Purchase Rule
126. Simulation: Maximizing Utility
127. Self Check: The Utility Maximizing Rule
128. Outcome: How Utility Changes
129. Reading: The Foundations of Demand Curve
130. Reading: Income Changes and Consumption Choices
131. Outcome: Behavioral Economics
132. Reading: Behavioral Economics: An Alternative Viewpoint
133. Putting It Together: Utility
134. Glossary: Utility
135. Discussion: Consumer Equilibrium
136. Why It Matters: Production
137. Outcome: Defining Production
138. Reading: Cost and Industry Structure
139. Reading: Factors of Production
140. Outcome: Marginal, Average, and Total Product
141. Reading: Production Choices and Costs
142. Outcome: Explicit and Implicit Costs
143. Reading: Explicit and Implicit Costs
144. Outcome: Marginal, Average, and Total Cost
145. Reading: Fixed and Variable Costs
146. Reading: The Structure of Costs in the Short Run
147. Outcome: Sunk Costs
148. Reading: Sunk Costs and Alternative Measures of Cost
149. Outcome: The Short Run vs. The Long Run
150. Reading: Short Run vs. Long Run Costs
151. Reading: Short Run and Long Run Average Total Costs
152. Outcome: Long Run Costs and Economies of Scale
153. Reading: Long Run Costs
154. Reading: Economies of Scale
155. Putting It Together: Production
156. Glossary: Production
157. Discussion: Diminishing Returns
158. Why It Matters: Perfect Competition
159. Outcome: Defining Perfect Competition
160. Reading: Perfect Competition
161. Outcome: Perfectly Competitive Firms and Industries
162. Reading: Perfect Competition: A Model
163. Reading: Price and Revenue in a Perfectly Competitive Industry and Firm
164. Outcome: Costs and Revenue in a Perfectly Competitive Market
165. Reading: How Perfectly Competitive Firms Make Output Decisions
166. Outcome: Profit and Losses in a Perfectly Competitive Market
167. Reading: Profits and Losses with the Average Cost Curve
168. Simulation: Maximizing Profit
169. Outcome: The Shutdown Point
170. Reading: The Shutdown Point
171. Outcome: Entry and Exit Decisions
172. Reading: Entry and Exit Decisions in the Long Run
173. Outcome: Efficiency in Perfectly Competitive Markets
174. Reading: Efficiency in Perfectly Competitive Markets
175. Putting It Together: Perfect Competition
176. Glossary: Perfect Competition
177. Discussion: Independent Trucking Analysis
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. Discussion: Price Discrimination
199. Why It Matters: Monopolistically Competitive Industries
200. Outcome: Monopolistically Competitive Industries
201. Reading: Introducing Monopolistic Competition
202. Reading: Monopolistic Competition
203. Outcome: Calculating Cost and Revenue
204. Reading: Choosing Price and Quantity
205. Outcome: Short Run and Long Run Equilibrium
206. Reading: Monopolistic Competitors and Entry
207. Outcome: Advertising
208. Reading: Advertising and Monopolistic Competition
209. Outcome: Inefficiency of Monopolistic Competition
210. Reading: Monopolistic Competition and Efficiency
211. Putting It Together: Monopolistically Competitive Industries
212. Glossary: Monopolistic Competition
213. Discussion: Monopolistic Competition
214. Why It Matters: Oligopoly
215. Outcome: Introduction to Oligopolies
216. Reading: Introducing Oligopolies
217. Reading: Why do Oligopolies Exist?
218. Reading: Competition Among the Few
219. Reading: Oligopoly Models
220. Outcome: Collusion
221. Reading: Collusion or Competition?
222. Reading: The Collusion Model
223. Outcome: Game Theory
224. Reading: Prisoner's Dilemma
225. Reading: Game Theory
226. Outcome: Inefficiency in Oligopolies
227. Reading: Tradeoffs of Imperfect Competition
228. Putting It Together: Oligopoly
229. Glossary: Oligopolies
230. Discussion: Oligopoly
231. Why It Matters: Public Goods
232. Outcome: Defining Public Goods
233. Reading: Positive Externalities and Public Goods
234. Reading: Public Goods
235. Outcome: Free Riders
236. Reading: Free Riders
237. Outcome: Positive and Negative Externalities
238. Reading: Positive Externalities and Technology
239. Reading: Introduction to Externalities and Pollution
240. Video: Pollution in China
241. Video: Externalities
242. Reading: Market Failure
243. Outcome: Government Involvement and Externalities
244. Reading: Command-and-Control Regulation
245. Reading: The Benefits and Costs of U.S. Environmental Laws
246. Reading: How Governments Can Encourage Innovation
247. Outcome: Market-Based Solutions
248. Reading: Market-Oriented Environmental Tools
249. Reading: Market-Oriented Environmental Tools: Effectiveness and Application
250. Putting It Together: Public Goods
251. Glossary: Public Goods
252. Discussion: Externalities and Public Goods
253. Why It Matters: Globalization, Trade and Finance
254. Outcome: Comparative and Absolute Advantage
255. Reading: Introduction to International Trade
256. Reading: Absolute and Comparative Advantage
257. Reading: Absolute Advantage
258. Reading: Intra-Industry Trade
259. Reading: Reducing Barriers to Trade
260. Outcome: Impact of International Trade
261. Reading: Demand and Supply Analysis of International Trade
262. Outcome: Impact of Government Regulations
263. Reading: Restrictions on International Trade
264. Reading: Justifications for Trade Restriction
265. Case in Point: Outsourcing, Insourcing, and Employment
266. Reading: The Tradeoffs of Trade Policy
267. Outcome: Trade Policy and Agreements
268. Reading: How Trade Policy Is Enacted
269. Videos: Trade Agreements
270. Self Check: Trade Policy and Agreements
271. Outcome: Exchange Rates and International Finance
272. Reading: Exchange Rates and International Capital Flows
273. Reading: The Foreign Exchange Market
274. Reading: Strengthening and Weakening Currency
275. Reading: Demand and Supply Shifts in Foreign Exchange Markets
276. Outcome: The Balance of Trade
277. Reading: Macroeconomic Effects of Exchange Rates
278. Reading: Exchange-Rate Policies
279. Outcome: Globalization
280. Reading: Introduction to Globalization
281. Reading: Trade Winds
282. Simulation: International Trade
283. Self Check: Globalization
284. Putting It Together: Globalization, Trade and Finance
285. Glossary: International Trade
286. Discussion: Absolute and Comparative Advantage
287. Why It Matters: Income Distribution
288. Outcome: Factors of Production
289. Reading: The Demand for Labor
290. Case in Point: Computer Technology Increases the Demand for Some Workers and Reduces the Demand for Others
291. Reading: The Supply of Labor
292. Case in Point: An Airline Pilot's Lament
293. Reading: Labor Markets at Work
294. Case in Point: Technology and the Wage Gap
295. Reading: Time and Interest Rates
296. Reading: Interest Rates and Capital
297. Reading: Loanable Funds
298. Reading: Natural Resources and Conservation
299. Outcome: Competition and Wages
300. Reading: Monopsony
301. Reading: Monopoly and Monopsony: A Comparison
302. Reading: Monopsony and the Minimum Wage
303. Reading: Price Setters on the Supply Side
304. Simulation: Income Distribution
305. Self Check: Competition and Wages
306. Outcome: Measuring and Understanding the Distribution of Income
307. Reading: Poverty and Economic Inequality
308. Reading: The Poverty Trap
309. Reading: The Safety Net
310. Reading: Explaining Inequality
311. Reading: Measuring Income Inequality
312. Reading: Government Policies to Reduce Income Inequality
313. Putting It Together: Income Distribution
314. Glossary: Income Distribution
315. Discussion: Income Distribution
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