Principles of Microeconomics - MIT - William Wheaton

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Lessons

Lecture 1. Overview: themes, types of markets, economic measurement, economic analysis
Lecture 2. The basics of supply and demand
Lecture 3. Elasticities of demand
Lecture 4. Price elasticity of supply; consumer preferences
Lecture 5. Deriving MRS from utility function, budget constraints, and interior solution of optimization
Lecture 6. Optimization, revealed preference, and deriving individual demand
Lecture 7. Substitution and income effects, individual and market demand, consumer surplus
Lecture 8. Irish potato famine, network externalities, and uncertainty
Lecture 9. Preference toward risk, risk premium, indifference curves, and reducing risk
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Principles of Microeconomics - MIT - William Wheaton

Topic	Author
Assignment: Questions/Thoughts?	Ashish Gupta (13)
Public goods : Questions/Thoughts?	Ashish Gupta (13)
Externalities, market failure and government : Questions/Thoughts?	Ashish Gupta (13)

About This Course

This introductory course teaches the fundamentals of microeconomics. Topics include consumer theory, producer theory, the behavior of firms, market equilibrium, monopoly, and the role of the government in the economy. 14.01 is a Humanities, Arts, and Social Sciences (HASS) elective and is offered both terms.

Instructor: William Wheaton
Source: MIT OpenCourseWare
License: Creative Commons BY-NC-SA
Donations: Donate to MIT

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