Education For All

Text size
  • Increase font size
  • Default font size
  • Decrease font size

Principles of Microeconomics - Lecture 23

Please wait...
Lecture 23 - Equity and Efficiency

Up to this point in the course, we have focused only on the outcomes generated by the market and their efficiency properties. Competitive equilibria in a market are typically efficient, but they may not be equitable: Some people may benefit greatly from the market's operation, while others do not. As a society, we may decide we want to alter these outcomes in a way that seems more equitable, but such changes typically come at the cost of efficiency. In this lecture, we will begin to learn about the efficiency-equity trade-off.

Prof. Jonathan Gruber
14.01 Principles of Microeconomics
(Massachusetts Institute of Technology: MIT OpenCourseWare)
Date accessed: 2012-03-01
License: Creative Commons BY-NC-SA

Lecture Material

To view the lecture material accompanying this lecture in a new window, please click the button below. If necessary, use the vertical or horizontal scrollbar in the new window to view more of the material or you can resize the window.

To download the above lecture material use this link. (Right-click and select Save Target As or Save Link As.)



Chinese (Simplified) French German Italian Japanese Korean Portuguese Russian Spanish
More educational resources: