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Table of contents
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0. Basic Principles of Economics
1h 5m
Worksheet
Introduction to Economics
3m
People Are Rational
2m
People Respond to Incentives
1m
Scarcity and Choice
2m
Marginal Analysis
9m
Allocative Efficiency, Productive Efficiency, and Equality
7m
Positive and Normative Analysis
7m
Microeconomics vs. Macroeconomics
2m
Factors of Production
5m
Circular Flow Diagram
5m
Graphing Review
10m
Percentage and Decimal Review
4m
Fractions Review
2m
1. Reading and Understanding Graphs
59m
Worksheet
Graphs of Two Variables
4m
Relationships between Variables
7m
Interpreting Graphs, Correlation, Causation, and Omitted Variables
6m
Slope of Linear Graphs
7m
Slope of a Curve at a Point
3m
Finding the Maximum and Minimum Points on Graphs
2m
Percentage and Decimal Review
5m
Fractions Review
12m
Areas of Shapes
8m
2. Introductory Economic Models
1h 10m
Worksheet
Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency
18m
PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency
13m
PPF - Outward Shifts
8m
PPF - Comparative Advantage and Absolute Advantage
18m
PPF - Comparative Advantage and Trade
7m
PPF - The Price of the Trade
3m
3. The Market Forces of Supply and Demand
2h 26m
Worksheet
Competitive Markets
10m
The Demand Curve
13m
Shifts in the Demand Curve
24m
Movement Along a Demand Curve
5m
The Supply Curve
9m
Shifts in the Supply Curve
22m
Movement Along a Supply Curve
3m
Market Equilibrium
8m
Using the Supply and Demand Curves to Find Equilibrium
3m
Effects of Surplus
3m
Effects of Shortage
2m
Supply and Demand: Quantitative Analysis
40m
4. Elasticity
2h 16m
Worksheet
Percentage Change and Price Elasticity of Demand
10m
Elasticity and the Midpoint Method
20m
Price Elasticity of Demand on a Graph
11m
Determinants of Price Elasticity of Demand
6m
Total Revenue Test
13m
Total Revenue Along a Linear Demand Curve
14m
Income Elasticity of Demand
23m
Cross-Price Elasticity of Demand
11m
Price Elasticity of Supply
12m
Price Elasticity of Supply on a Graph
3m
Elasticity Summary
9m
5. Consumer and Producer Surplus; Price Ceilings and Floors
3h 45m
Worksheet
Consumer Surplus and Willingness to Pay
38m
Producer Surplus and Willingness to Sell
26m
Economic Surplus and Efficiency
18m
Quantitative Analysis of Consumer and Producer Surplus at Equilibrium
28m
Price Ceilings, Price Floors, and Black Markets
38m
Quantitative Analysis of Price Ceilings and Price Floors: Finding Points
20m
Quantitative Analysis of Price Ceilings and Price Floors: Finding Areas
54m
6. Introduction to Taxes and Subsidies
1h 46m
Worksheet
Introducing Taxes and Tax Incidence
19m
Effects of Taxes on a Market
12m
Elasticity and Taxes
14m
Subsidies
16m
The Laffer Curve
9m
Quantitative Analysis of Taxes
13m
Tax Efficiency
9m
Tax Equity
11m
7. Externalities
1h 12m
Worksheet
Externalities: Social Benefits and Social Costs
28m
Public Solutions to Externalities
26m
Private Solutions to Externalities: The Coase Theorem
17m
8. The Types of Goods
1h 13m
Worksheet
Four Types of Goods and Two Characteristics
28m
The Free Rider Problem and the Tragedy of the Commons
22m
Public Goods: Demand Curve and Optimal Quantity
23m
9. International Trade
1h 16m
Worksheet
Exporting and Importing
16m
Sources of Comparative Advantage
6m
Tariffs on Imports
21m
Import Quotas and VERs
23m
Arguments Against International Trade
7m
10. The Costs of Production
2h 35m
Worksheet
Revenue, Cost, and Profit
30m
The Production Function and Diminishing Returns
12m
Marginal Cost
27m
The Relationship Between Average Cost and Marginal Cost
23m
Graphing Costs
17m
Average Total Cost: Short Run and Long Run
19m
Isoquant Lines
9m
Isocost Lines
7m
Cost-Minimizing Combination of Labor and Capital
6m
11. Perfect Competition
2h 23m
Worksheet
Introduction to the Four Market Models
2m
Characteristics of Perfect Competition
6m
Revenue in Perfect Competition
14m
Perfect Competition Profit on the Graph
20m
Short Run Shutdown Decision
33m
Long Run Entry and Exit Decision
18m
Individual Supply Curve in the Short Run and Long Run
6m
Market Supply Curve in the Short Run and Long Run
9m
Long Run Equilibrium
12m
Perfect Competition and Efficiency
15m
Four Market Model Summary: Perfect Competition
5m
12. Monopoly
2h 13m
Worksheet
Characteristics of Monopoly
21m
Monopoly Revenue
12m
Monopoly Profit on the Graph
16m
Monopoly Efficiency and Deadweight Loss
20m
Price Discrimination
22m
Antitrust Laws and Government Regulation of Monopolies
11m
Mergers and the Herfindahl-Hirschman Index (HHI)
17m
Four Firm Concentration Ratio
6m
Four Market Model Summary: Monopoly
4m
13. Monopolistic Competition
1h 9m
Worksheet
Characteristics of Monopolistic Competition
10m
Revenue in Monopolistic Competition
14m
Monopolistic Competition Profit on the Graph
13m
Monopolistic Competition in the Long Run
14m
Efficiency in Monopolistic Competition
8m
Advertising
4m
Four Market Model Summary: Monopolistic Competition
3m
14. Oligopoly
1h 26m
Worksheet
Characteristics of Oligopoly
16m
One-Time Games and the Prisoner's Dilemma
30m
Game Theory and Oligopoly Profit
16m
Repeated Games
5m
Kinked-Demand Theory
13m
Four Market Model Summary: Oligopoly
3m
15. Markets for the Factors of Production
1h 33m
Worksheet
The Production Function and Marginal Revenue Product
16m
Demand for Labor in Perfect Competition
7m
Shifts in Labor Demand
13m
Supply of Labor in Perfect Competition
7m
Shifts in Labor Supply
5m
Differences in Wages
6m
Discrimination
6m
Other Factors of Production: Land and Capital
5m
Unions
6m
Monopsony
11m
Bilateral Monopoly
5m
16. Income Inequality and Poverty
35m
Worksheet
Income Inequality in the USA and Worldwide
1m
Poverty
5m
Polices to Reduce Poverty
6m
Lorenz Curve and Gini Coefficient
16m
Income Equality and Efficiency
6m
17. Asymmetric Information, Voting, and Public Choice
39m
Worksheet
Asymmetric Information: Adverse Selection and Moral Hazard
11m
Solutions to Informational Problems
11m
Median Voter Theorem
9m
Condorcet Voting Paradox
7m
18. Consumer Choice and Behavioral Economics
1h 16m
Worksheet
Budget Constraint
27m
Indifference Curves
25m
Indifference Curves for Perfect Substitutes and Perfect Complements
4m
Consumer Optimum Consumption: Budget Constraint and Indifference Curves
7m
Consumer Optimum Consumption: Marginal Utility per Dollar Spent
13m
15. Markets for the Factors of Production
Shifts in Labor Supply
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Microeconomics
15. Markets for the Factors of Production
Shifts in Labor Supply
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