Principles of Microeconomics
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Chapter 1 Chapter 7
Chapter 2 Chapter 8
Chapter 3 Chapter 9
Chapter 4 Chapter 10
Chapter 5 Chapter 11
Chapter 6 Chapter 15
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Last updated 05/09/2002
I. Introduction
A. Definitions
B. Math Review
C. Basic Models
II. Scarcity and Choice
A. Opportunity Cost
B. PPC
C. Economic Growth
Definitions Part 1
Outline ... Free goods
(18:58)
Definition
Part 2
Scarce goods ...
Technological Depreciation
(15:14)
Definition
Part 3
Entrepreneurship ...
Macroeconomics
(18:46)
Definition
Part 4
Rational Behavior and Consumer Sovereignty
(11:20)
Math
Review (0:28:49)
Basic
Models (26:51)
Opportunity
Cost
(13:58)
PPC
(Part I)
(16:44)
PPC
(Part II)
(23:07)
Economic Growth Pt. 1 (1:52)
Economic
Growth Pt. 2
(30:30)
III. Economic Systems
A. Three Basic
Economic
Questions
B. Economic Efficiency
C. Alternative
Economic Systems
IV. Trade
A. Comparative
Advantage
What to Produce
(29:28)
How & to Whom to Produce (16:19)
Economic
Efficiency, Alternative Economic Systems
(27:27)
Comp. Adv. & Autarky
(11:28)
Comp. Adv. Example
(33:51)
Why Trade? (39:12)
Real
World Concerns (12:24)
B. Supply and
Demand
Law of Demand (28:35)
Determinants of Demand (19:41)
Supply & Determinants of Supply (18:37)
Equilibrium/Excess
S & D
(11:48)
Price Floor & Ceiling
(19:19)
Shift in S & D
(17:33)
Double Shifts
(30:43)
Review #4
Key to Review #4
C. Limitations of the
Pure Market
Economy
D. Role of Government
E. Taxes & Subsidies
Competition Failure and Public Good Failure (13:17)
Externalities and Inequality (22:18)
Government Role (6:14)
Tax Examples
(30:22)
F. Elasticity
V. Foundations of
Demand
A. Marginal Analysis
B. Utility Theory
C. Derived Demand
Price Elasticity of Demand (18:07)
Relationship between Total Rev. and Elasticity (20:04)
Determinants of Price & Elasticity (8:48)
Marginal Analysis (36:32)
Utility
Theory (20:18)
Derived Demand Part 1 (9:00)
Derived
Demand Part 2 (19:35)
Review #5
Key to Review #5
Supply
(Theory of the Firm)
A. Business
Organization
B. Economic Cost &
Profit
C. Production and
Cost
1. Production
Function
2. Short Run
Production
3. Firm's Cost
Function
4. Relationship
between
Production and
Cost
5. Long Run Cost
D. Technological
Change
Foundations of Supply (8:14)
Economic Cost & Profit (35:04)
Production Function (42:51)
Diminishing Return (7:45)
Firm's
Cost Function
(40:09)
Relationship between
Production and Cost (9:54)
Long Run Average Total Cost and Technological Change
(35:03)
A. Assumptions
B. Firm's Demand
Curve
C. Profit Maximizing
Condition
D. Short-Run
Equilibria
& Long-Run
Equilibrium
E. Firm's Supply
Curve
Assumptions (8:30)
The Firm's Demand Curve and Profit-Maximizing Condition (15:21)
Profit-Maximization Example (18:30)
Case One & Two (25:33)
Case Three & Four (11:06)
Overview (4:42)
Firm's Supply Curve (6:45)
Review #8
Key to Review #8
(Continued)
F. Long-Run
Equilibrium
Adjustment
G. Evaluating Perfect
Competition
LR Equilibrium Adj / Increase in Demand (11:00)
LR Equilibrium Adj / Decrease in Demand (3:26)
LR Equilibrium Adj / Increase in LR Supply (19:04)
Evaluation of Perfect Comp (23:02)
A. Assumptions
B. Profit-Max
(MR=MC)
C. Short-Run &
Long-Run
Equilibrium
D. Consumer
Surplus, Producer
Surplus, &
Welfare Loss
E. Evaluating
Monopoly
Monopoly Assumptions (17:25)
Profit Maximizations (6:12)
The Four Short Run Cases (34:27)
CS, PS, DWL
(15:47)
Evaluating Monopoly
(8:34)
Review #9
Key to Review #9
Competition
A. Oligopoly
1. Prisoner's
Dilemma
2. Kinked Demand
Curve
B. Cartel
Oligopoly Assumptions (16:42)
Prisoner's Dilemma (9:15)
Oligopoly Firm Dilemma (12:32)
Kinked Demand Curve (12:34)
Collusion (6:22)
Cartel and Cheating (20:48)
Review #10
Key to Review #10
Competition
C. Monopolistic
Competition
Assumptions for Monopolistic Competition and Profit Maximization (18:37)
Evaluating Monopolistic
Competition (7:27)
A. Labor Supply
B. Labor Demand
C. Equilibrium
D. Minimum Wage
Ch 1, 2, 3, 4
Ch 5, 6, 7, 8, 9
Ch 10, 11, 15
Midterm 1
Midterm 2
Final
Ch 1, 2, 3, 4
Ch 5, 6, 7, 8, 9
Comprehensive
(Ch 1 - 11, 15)
Page created by Aluisius
Sudiarto @ July,
2001