Microeconomics
Introduction
1. Introduction to the Course
What to expect from this course. What economics is all about.
Introduction
2. Economic Thinking
Distinguishing homo economicus from homo sapiens.
Introduction
3. The Gains from Trade
Explaining mutuality of advantage from voluntary exchange.
how markets work
4. The Market Forces
Explaining the market forces of demand and supply.
how markets work
5. Elasticity
Measuring the responsiveness of demand and supply to their determinants.
how markets work
6. Government Intervention
Investigating why and how governments try to influence market outcomes.
welfare economics
7. The Efficiency of Markets
Using the supply and demand model to investigate market efficiency.
welfare economics
8. Taxation and Welfare
Using the supply and demand model to investigate how taxes affect social welfare.
labor economics
9. Factor Markets
Using the supply and demand model to understand markets for factors of production.
financial economics
10. Financial Investments
Introduction to investment in financial assets and common stock valuation.
business economics
11. Production and Costs
Production is necessary for generating revenues, but it necessarily entails costs.
business economics
12. The Competitive Firm
Investigating the long-term prospects of a perfectly competitive firm.
business economics
13. Market Power
Investigating the long-term prospects of a firm with significant market power.
business economics
14. Monopolistic Competition
Long-term perspectives of a firm with market power but missing barriers to entry.
business economics
15. Oligopoly
The implications of interdependence and strategic behavior.