Lectures (Video)
- 1. Introduction to Microeconomics
- 2. Applying Supply and Demand
- 3. Elasticity
- 4. Preferences and Utility
- 5. Budget Constraints
- 6. Deriving Demand Curves
- 7. Applying Consumer Theory: Labor Supply
- 8. Introduction to Producer Theory
- 9. Production Theory
- 10. Competition I
- 11. Competition II
- 12. Competition III
- 13. Welfare Economics
- 14. Monopoly I
- 15. Monopoly II
- 16. Oligopoly I
- 17. Oligopoly II
- 18. Factor Markets
- 19. International Trade
- 20. Welfare Economics
- 21. Capital Supply and Markets I
- 22. Capital Supply and Markets II
- 23. Equity and Efficiency
- 24. Government Redistribution Policy
- 25. U.S. Social Insurance Programs
- 26. Healthcare Economics
Principles of Microeconomics
Course Summary
This course begins with an introduction to supply and demand and the basic forces that determine an equilibrium in a market economy. Next, it introduces a framework for learning about consumer behavior and analyzing consumer decisions. We then turn our attention to firms and their decisions about optimal production, and the impact of different market structures on firms' behavior. The final section of the course provides an introduction to some of the more advanced topics that can be analyzed using microeconomic theory. These include international trade, the impact of uncertainty on consumer behavior, the operation of capital markets, equity vs. efficiency trade-offs in economic policy and social insurance.
Reading Material
1. Microeconomics (Textbook)Perloff, Jeffrey M.
Microeconomics.
5th ed. Addison Wesley, 2008.
ISBN: 9780321558497.
This is the official textbook used by students enrolled in the class at MIT.
2. Principles of Microeconomics
Rittenberg, Libby, and Timothy Tregarthen.
Principles of Microeconomics.
Flat World Knowledge, 2009.
ISBN: 9780982043035.
This Creative Commons-licensed online text offers free web viewing and low-cost print & download options.
Course Material
1. Exam Questions and SolutionsPractice Midterm 1 Problems (PDF)
Practice Midterm 1 Solutions (PDF)
Midterm 1 Problems (PDF)
Midterm 1 Solutions (PDF)
Practice Midterm 2 Problems (PDF)
Practice Midterm 2 Solutions (PDF)
Midterm 2 Problems (PDF)
Midterm 2 Solutions (PDF)
Practice Final Exam Problems (PDF)
Practice Final Exam Solutions (PDF)
Final Exam Problems (PDF)
Final Exam Solutions (PDF)