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.
9 units139 videos18 hours
Learn it live with a class on Puzzicle · Teachers: use it with your class
Unit 1: Basic economic concepts
Introduction to economics
Economic systems
Production possibilities frontier
Comparative advantage and the terms of 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
Unit 2: Supply, demand, and market equilibrium
Demand
Law of demand ✓ Check-ins8:16
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
Supply
Market equilibrium and changes in equilibrium
Unit 3: Elasticity
Price elasticity of demand
Introduction to price elasticity of demand ✓ Check-ins8:40
Price elasticity of demand using the midpoint method ✓ Check-ins13:17
More on elasticity of demand ✓ Check-ins6:01
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
Elasticity and strange percent changes ✓ Check-ins6:54
Price elasticity of supply
Income elasticity of demand and cross-price elasticity of demand
Unit 4: Consumer and producer surplus, market interventions, and international trade
Consumer and producer surplus
Market interventions and deadweight loss
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
Percentage tax on hamburgers ✓ Check-ins5:40
Taxes and perfectly inelastic demand ✓ Check-ins7:51
Taxes and perfectly elastic demand ✓ Check-ins6:52
Unit 5: Consumer theory
Introduction to consumer theory: total utility and marginal utility
Utility maximization using marginal utility per dollar spent
Unit 6: Production decisions and economic profit
Introduction to production and costs
Production and costs in the short run
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
Visualizing average costs and marginal costs as slope ✓ Check-ins12:06
Production and costs in the long run
Types of profit
Profit maximization
Firm entry, exit, and the shut-down rule
Unit 7: Forms of competition
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
Monopoly
Perfect and imperfect competition ✓ Check-ins10:00
Types of competition and marginal revenue ✓ Check-ins6:44
Marginal revenue and marginal cost in imperfect competition ✓ Check-ins3:41
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
Optional calculus proof to show that MR has twice slope of demand ✓ Check-ins4:56
Price discrimination
Monopolistic competition
Unit 8: Factor markets
Introduction to factor markets
Changes in factor demand and supply
Optimal choice of factors in perfectly competitive factor markets
Choosing inputs when factor markets are monopolistically competitive
Unit 9: Market failure and the role of government
Externalities
The four types of goods: private goods, public goods, common resources, and natural monopolies
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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