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