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14.01SC Principles of Microeconomics (MIT) 14.01SC Principles of Microeconomics (MIT)

Description

Includes audio/video content: AV lectures. 14.01 Principles of Microeconomics is an introductory undergraduate course that teaches the fundamentals of microeconomics. This course introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Students will also be introduced to the use of microeconomic applications to address problems in current economic policy throughout the semester. This course is a core subject in MIT's undergraduate Energy Studies Minor. This Institute-wide program complements the deep expertise obtained in any major with a broad understanding of the interlinked realms of science, technology, and social sciences as they relate to energy and associated environmen Includes audio/video content: AV lectures. 14.01 Principles of Microeconomics is an introductory undergraduate course that teaches the fundamentals of microeconomics. This course introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Students will also be introduced to the use of microeconomic applications to address problems in current economic policy throughout the semester. This course is a core subject in MIT's undergraduate Energy Studies Minor. This Institute-wide program complements the deep expertise obtained in any major with a broad understanding of the interlinked realms of science, technology, and social sciences as they relate to energy and associated environmen

Subjects

Microeconomics | Microeconomics | prices | prices | normative economics | normative economics | positive economics | positive economics | microeconomic applications | microeconomic applications | supply | supply | demand | demand | equilibrium | equilibrium | demand shift | demand shift | supply shift | supply shift | government interference | government interference | elasticity | elasticity | revenue | revenue | empirical economics | empirical economics | consumer theory | consumer theory | preference assumptions | preference assumptions | indifference curves | indifference curves | utility functions | utility functions | marginal utility | marginal utility | budget constraints | budget constraints | marginal rate of transformation | marginal rate of transformation | opportunity cost | opportunity cost | constrained utility maximization | constrained utility maximization | corner solutions | corner solutions | Engel curves | Engel curves | income effect | income effect | substitution effect | substitution effect | Giffin good | Giffin good | labor economics | labor economics | child labor | child labor | producer theory | producer theory | variable inputs | variable inputs | fixed inputs | fixed inputs | firm production functions | firm production functions | marginal rate of technical substitution | marginal rate of technical substitution | returns to scale | returns to scale | productivity | productivity | perfect competition | perfect competition | search theory | search theory | residual demand | residual demand | shutdown decisions | shutdown decisions | market equilibrium | market equilibrium | agency problem | agency problem | welfare economics | welfare economics | consumer surplus | consumer surplus | producer surplus | producer surplus | dead weight loss | dead weight loss | monopoly | monopoly | oligopoly | oligopoly | market power | market power | price discrimination | price discrimination | price regulation | price regulation | antitrust policy | antitrust policy | mergers | mergers | cartel | cartel | game theory | game theory | Nash equilibrium | Nash equilibrium | Cournot model | Cournot model | duopoly | duopoly | non-cooperative competition | non-cooperative competition | Bertrand competition | Bertrand competition | factor markets | factor markets | international trade | international trade | uncertainty | uncertainty | capital markets | capital markets | intertemporal choice | intertemporal choice | real interest rate | real interest rate | compounding | compounding | inflation | inflation | investment | investment | discount rate | discount rate | net present value | net present value | income distribution | income distribution | social welfare function | social welfare function | Utilitarianism | Utilitarianism | Raulsian criteria | Raulsian criteria | Nozickian | Nozickian | commodity egalitarianism | commodity egalitarianism | isowelfare curves | isowelfare curves | social insurance | social insurance | social security | social security | moral hazard | moral hazard | taxation | taxation | EITC | EITC | healthcare | healthcare | PPACA | PPACA

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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Introduction to microeconomics Introduction to microeconomics

Description

This is a module framework. It can be viewed online or downloaded as a zip file. As taught Semester 1 2009/2010. There are no pre-requisites to taking this module and in particular there is no assumption of any prior knowledge of economics. For those who have taken A-level economics or any other version of economics some of the module content will appear familiar to you. However, the methods of analysis and the approach to teaching will quite probably be very different to anything experienced before and thus it is very important that good lecture notes are made, essays are thoughtfully written and background reading is undertaken. If not, then a degree level of understanding of the material will not be achieved. This module is suitable for study at undergraduate level 1 Dr Wyn Morga This is a module framework. It can be viewed online or downloaded as a zip file. As taught Semester 1 2009/2010. There are no pre-requisites to taking this module and in particular there is no assumption of any prior knowledge of economics. For those who have taken A-level economics or any other version of economics some of the module content will appear familiar to you. However, the methods of analysis and the approach to teaching will quite probably be very different to anything experienced before and thus it is very important that good lecture notes are made, essays are thoughtfully written and background reading is undertaken. If not, then a degree level of understanding of the material will not be achieved. This module is suitable for study at undergraduate level 1 Dr Wyn Morga

Subjects

UNow | UNow | UKOER | UKOER | Microeconomics | Microeconomics | Microeconomic Theory | Microeconomic Theory | Consumer Theory | Consumer Theory | Consumer Welfare and the Household as Supplier | Consumer Welfare and the Household as Supplier | The Firm's Supply | The Firm's Supply | Perfectly Competitive Markets | Perfectly Competitive Markets | Imperfectly Competitive Markets | Imperfectly Competitive Markets | Market Failure | Market Failure | Economics | Economics

License

Except for third party materials (materials owned by someone other than The University of Nottingham) and where otherwise indicated, the copyright in the content provided in this resource is owned by The University of Nottingham and licensed under a Creative Commons Attribution-NonCommercial-ShareAlike UK 2.0 Licence (BY-NC-SA) Except for third party materials (materials owned by someone other than The University of Nottingham) and where otherwise indicated, the copyright in the content provided in this resource is owned by The University of Nottingham and licensed under a Creative Commons Attribution-NonCommercial-ShareAlike UK 2.0 Licence (BY-NC-SA)

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DP3Y 34 Economics A: An Introduction to Economics

Description

This Unit is all about the introductory concepts of economics. It introduces you to: • the basic economic problem • the choices that arise out of this problem • production possibility curves • the circular flow of income • some of the methods economists use in their study • the mechanics of demand and supply • the concept of elasticity and market failure. There are three Outcomes in this Unit. Outcome 1 - Explain the allocation of resources in an economy. Outcome 2 - Explain the main methods used in the study of economics. Outcome 3 - Explain the market mechanism as a means of allocating resources and the results of market failure.

Subjects

DP3Y34 | Microeconomics | Macroeconomics | Basic Economic Problem (SCARCITY) | Factors of Production | Limited Resources | Unlimited Wants | Opportunity Cost | Production Possibility Curves (PPCs) | Circular Flow of Income | Income/Expenditure Diagram | Withdrawals/Injections Diagram | Ceteris Paribus | Invisible Hand | Elasticity | E: Politics/Economics/Law/Social Sciences | POLITICS / ECONOMICS / LAW / SOCIAL SCIENCES | SCQF Level 7

License

Gerard Keegan: www.gerardkeegan.co.uk The author would like to thank the following people for their assistance in the development of these materials: • John Lewis • Marion Lever • Anne Puntis • Emma Moncrieff • Elaine Ferguson • the COLEG team. Grateful thanks are expressed to the following for permission to use various extracts from their publications. This permission has been received in writing and is given for inclusion in this package and for use by COLEG member colleges. • Cardwell, M, et al. (2000). Psychology for AS Level, London HarperCollins • Coolican, H. (1995). Research Methods and Statistics in Psychology, London, Hodder and Stoughton. • Keegan, G. (2002). Higher Psychology, London, Hodder and Stoughton. • www.gerardkeegan.co.uk (permission granted) • The history of Psychology, and its people http://www.psychology.org/links/People_and_History/ URL: http://www.pbs.org/wgbh/aso/databank/entries/bhskin.html Gerard Keegan: www.gerardkeegan.co.uk The author would like to thank the following people for their assistance in the development of these materials: • John Lewis • Marion Lever • Anne Puntis • Emma Moncrieff • Elaine Ferguson • the COLEG team. Grateful thanks are expressed to the following for permission to use various extracts from their publications. This permission has been received in writing and is given for inclusion in this package and for use by COLEG member colleges. • Cardwell, M, et al. (2000). Psychology for AS Level, London HarperCollins • Coolican, H. (1995). Research Methods and Statistics in Psychology, London, Hodder and Stoughton. • Keegan, G. (2002). Higher Psychology, London, Hodder and Stoughton. • www.gerardkeegan.co.uk (permission granted) • Th Licensed to colleges in Scotland only Licensed to colleges in Scotland only http://content.resourceshare.ac.uk/xmlui/bitstream/handle/10949/17759/LicenceCOLEG.pdf?sequence=1 http://content.resourceshare.ac.uk/xmlui/bitstream/handle/10949/17759/LicenceCOLEG.pdf?sequence=1 COLEG COLEG

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14.01SC Principles of Microeconomics (MIT)

Description

14.01 Principles of Microeconomics is an introductory undergraduate course that teaches the fundamentals of microeconomics. This course introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Students will also be introduced to the use of microeconomic applications to address problems in current economic policy throughout the semester. This course is a core subject in MIT's undergraduate Energy Studies Minor. This Institute-wide program complements the deep expertise obtained in any major with a broad understanding of the interlinked realms of science, technology, and social sciences as they relate to energy and associated environmental challenges.

Subjects

Microeconomics | prices | normative economics | positive economics | microeconomic applications | supply | demand | equilibrium | demand shift | supply shift | government interference | elasticity | revenue | empirical economics | consumer theory | preference assumptions | indifference curves | utility functions | marginal utility | budget constraints | marginal rate of transformation | opportunity cost | constrained utility maximization | corner solutions | Engel curves | income effect | substitution effect | Giffin good | labor economics | child labor | producer theory | variable inputs | fixed inputs | firm production functions | marginal rate of technical substitution | returns to scale | productivity | perfect competition | search theory | residual demand | shutdown decisions | market equilibrium | agency problem | welfare economics | consumer surplus | producer surplus | dead weight loss | monopoly | oligopoly | market power | price discrimination | price regulation | antitrust policy | mergers | cartel | game theory | Nash equilibrium | Cournot model | duopoly | non-cooperative competition | Bertrand competition | factor markets | international trade | uncertainty | capital markets | intertemporal choice | real interest rate | compounding | inflation | investment | discount rate | net present value | income distribution | social welfare function | Utilitarianism | Raulsian criteria | Nozickian | commodity egalitarianism | isowelfare curves | social insurance | social security | moral hazard | taxation | EITC | healthcare | PPACA

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

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