AP®︎/College Microeconomics
Microeconomics is all about how individual actors make decisions. Learn how supply and demand determine prices, how companies think about competition, and more! We hit the traditional topics from a college-level microeconomics course.
6 units128 videos16 hours
Learn it live with a class on Puzzicle · Teachers: use it with your class
Unit 1: Basic Economic Concepts
Scarcity
Resource Allocation and Economic Systems
Production possibilities curve (PPC)
Comparative advantage and trade
Comparative advantage, specialization, and gains from trade ✓ Check-ins8:56
Comparative advantage and absolute advantage ✓ Check-ins10:16
Opportunity cost and comparative advantage using an output table ✓ Check-ins9:55
Terms of trade and the gains from trade ✓ Check-ins9:56
Input approach to determining comparative advantage ✓ Check-ins8:52
When there aren't gains from trade ✓ Check-ins6:50
Comparative advantage worked example ✓ Check-ins9:48
Cost-benefit analysis
Marginal analysis and consumer choice
Marginal utility and total utility ✓ Check-ins12:14
Visualizing marginal utility MU and total utility TU functions ✓ Check-ins8:10
Utility maximization: equalizing marginal utility per dollar ✓ Check-ins7:42
Marginal utility free response example ✓ Check-ins8:17
Marginal benefit AP free response question ✓ Check-ins7:46
Unit 2: Supply and Demand
Demand
Markets and property rights ✓ Check-ins6:01
Law of demand ✓ Check-ins8:16
Deriving demand curve from tweaking marginal utility per dollar ✓ Check-ins8:43
Market demand as the sum of individual demand ✓ Check-ins4:37
Substitution and income effects and the law of demand ✓ Check-ins3:48
Price of related products and demand ✓ Check-ins5:48
Change in expected future prices and demand ✓ Check-ins4:34
Changes in income, population, or preferences ✓ Check-ins3:33
Normal and inferior goods ✓ Check-ins5:56
Inferior goods clarification ✓ Check-ins5:19
Change in demand versus change in quantity demanded ✓ Check-ins8:27
Supply
Price elasticity of demand
Introduction to price elasticity of demand ✓ Check-ins8:40
Determinants of price elasticity of demand ✓ Check-ins9:22
Determinants of elasticity example ✓ Check-ins2:36
Perfect inelasticity and perfect elasticity of demand ✓ Check-ins9:41
Constant unit elasticity ✓ Check-ins4:37
Total revenue and elasticity ✓ Check-ins11:41
More on total revenue and elasticity ✓ Check-ins8:25
Price elasticity of supply
Other elasticities
Market equilibrium and consumer and producer surplus
Disequilibrium and changes in equilibrium
The effects of government interventions in markets
Rent control and deadweight loss ✓ Check-ins11:12
Minimum wage and price floors ✓ Check-ins9:06
How price controls reallocate surplus ✓ Check-ins8:43
Taxation and dead weight loss ✓ Check-ins9:06
Example breaking down tax incidence ✓ Check-ins5:47
Taxes and perfectly inelastic demand ✓ Check-ins7:51
Taxes and perfectly elastic demand ✓ Check-ins6:52
Unit 3: Production, cost, and the perfect competition model
The production function
Short-run production costs
Fixed, variable, and marginal cost ✓ Check-ins11:49
Marginal cost, average variable cost, and average total cost ✓ Check-ins7:29
Graphs of MC, AVC and ATC ✓ Check-ins8:44
Marginal revenue and marginal cost ✓ Check-ins6:10
Marginal revenue below average total cost ✓ Check-ins5:55
How costs change when fixed and variable costs change ✓ Check-ins6:27
Graphical impact of cost changes on marginal and average costs ✓ Check-ins3:47
Long-run production costs
Types of profit
Profit maximization
Firms’ Short-run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market
Perfect competition
Introduction to perfect competition ✓ Check-ins8:25
Economic profit for firms in perfectly competitive markets ✓ Check-ins8:14
Long-run economic profit for perfectly competitive firms ✓ Check-ins6:54
Long-run supply curve in constant cost perfectly competitive markets ✓ Check-ins6:38
Long run supply when industry costs aren't constant ✓ Check-ins5:58
Free response question (FRQ) on perfect competition ✓ Check-ins6:54
Unit 4: Imperfect competition
Introduction to imperfect competition
Monopoly
Monopolies vs. perfect competition ✓ Check-ins4:44
Economic profit for a monopoly ✓ Check-ins6:13
Monopolist optimizing price: Total revenue ✓ Check-ins7:11
Monopolist optimizing price: Marginal revenue ✓ Check-ins8:31
Monopolist optimizing price: Dead weight loss ✓ Check-ins5:57
Review of revenue and cost graphs for a monopoly ✓ Check-ins10:22
Price discrimination
Monopolistic competition
Oligopoly and game theory
Oligopolies, duopolies, collusion, and cartels ✓ Check-ins8:26
Prisoners' dilemma and Nash equilibrium ✓ Check-ins9:21
More on Nash equilibrium ✓ Check-ins6:31
Why parties to cartels cheat ✓ Check-ins11:19
Game theory of cheating firms ✓ Check-ins9:20
Game theory worked example from AP Microeconomics ✓ Check-ins13:33
Unit 5: Factor markets
Introduction to factor markets
Changes in factor demand and supply
Profit-maximizing behavior in perfectly competitive factor markets
Unit 6: Market failure and the role of government
Socially efficient and inefficient market outcomes
Public and private goods
The effects of government intervention in different market structures
Learn this with a class
With a class on Puzzicle this course runs as a timetable of live study parties: your batch watches together and answers the check-ins, sometimes with a teacher leading.
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