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Microeconomics

Basic Microeconomic Principles

  • Introduction to Economics

  • Introduction to Microeconomics

  • Paternalism vs. Libertarianism

  • Scarcity and the Fundamental Economic Problem

  • Scarcity vs. Poverty

  • Tradeoffs and Opportunity Cost

  • The Production Possibilities Frontier (PPF)

  • How to Graph the PPF

  • How to Graph the Marginal Cost Curve

  • How to Graph the Marginal Benefit Curve

  • Allocative Efficiency

  • Production Efficiency

  • Inefficient Production

  • How to Expand the PPF

  • Specialization and Trade

Supply and Demand

  • Law of Demand

  • Law of Supply

  • Market Equilibrium: Supply & Demand

  • Market Equilibrium: Math

  • Change in Demand

  • Change in Demand vs. Change in Quantity Demanded

  • Change in Supply

  • Change in Supply vs. Change in Quantity Supplied

  • Normal vs. Inferior Goods

  • Effects of Substitutes and Complements on Demand

  • Simultaneous Change in Demand and Supply

Elasticity

  • How to Calculate Price Elasticity of Demand

  • Elastic vs. Inelastic Demand

  • Income Elasticty of Demand

  • Cross Elasticity of Demand

  • Elasticity of Supply

Efficiency, Equity, and Resource Allocation

  • Efficiency vs. Equity

  • 3 Types of Economic Efficiency

  • 6 Types of Market Failures

  • Consumer and Producer Surplus

  • Price Ceiling

  • Price Floor

  • Price Support

Global Markets

  • Gains from Imports

  • Gains from Exports

  • Effect of an Import Tariff

Externalities & Public Goods

  • Externalities

  • Negative Externalities

  • Positive Externalites

  • Pigouvian Tax

  • Cap and Trade

  • Carbon Tax vs. Cap and Trade

  • The Coase Theorem

  • Public Goods

  • Efficient Provision of Public Goods

  • Common Resources

  • Individual Transfer Quotas

Applied Economics

  • The Economics of Drug Testing

  • The Economics of Airline Safety

  • Economics of Fracking

  • Economics of Housing Vouchers

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