7/19/13

Microecon:Main - Coursera

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Microecon:Main
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Contents
1 Video Lecture Notes 1.1 Week 1 1.2 Week 2 1.3 Week 3 1.4 Week 4 1.5 Week 5 1.6 Week 6 1.7 Week 7 1.8 Week 8

Video Lecture Notes

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Week 1
What is Economics? Economics is the study of how individuals and societies choose to use the scarce resources that nature and previous generations have provided. Since there is more than one way of distributing a scarce resource, the problem of economics is to find the best way to allocate (distribute) these scarce resources. Almost all resources are scarce. Microeconomics is the branch of economics that examines the behavior of individual decision-making units that is, business firms and households.
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Microecon:Main - Coursera

Opportunity Costs Definition: the value of the next best alternative that is given up to engage in an activity or exchange. Net-Benefit Principle To make a decision for the next action, you consider the next action or the marginal action (small change). Never make a decision on average value, make it based on the additional or marginal cost. (Given that I have done this, X, in the past, my next decision, Y, is the best one.) Example: Passing plays in football gain more average yards than running plays do. But the quarterback does not always pass the ball because the opposing team will know what the offense is doing. Only make a decision when the net marginal benefits outweigh the new marginal costs. The Invisible Hand Principle Trade

Week 2
1.1. What is a Market? 1.2. The Market of Romantic Relationships 2.1. The Determinants of Demand 2.2. The Demand Function, the Demand Schedule and the Demand Curve 2.3. Introducing Comparative Statistics: Changes in Prices and Demand 2.4. A Change in Demand: Part 1 2.5. A Change in Demand: Part 2 3.1. The Determinants of Supply 3.2. The Supply Equation, Schedule, and Curve 3.3. Change in the Price of Inputs 3.4. A Change in Technology 4.1. Equilibrium 5.1. Changes in Demand: Price of Related Goods 5.2. Changes in Demand: Consumer Preferences 5.3. A Change in Supply 5.4. Simultaneous Change in Supply and Demand 6.1. Demand and Supply Conclusion

Week 3
1.1. Do we need silly products? 2.1. What is Consumer Surplus? 2.2. Using the Demand Curve 3.1. What is Producer Surplus? 3.2. Using the Supply Curve 4.1. The Graphical Argument for Free Markets 5.1. Price Ceilings 5.2. Price Floors 6.1. Could we reduce the shortage of human organs? 6.2. Application: Playoff Tickets & Scalping Laws
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Microecon:Main - Coursera

Week 4
1.1 Introduction to Elasticity 2.1 Definition and Classifying Price Elasticities of Demand 2.2 Price Elasticity of Demand and Revenue 2.3 Determinants of Price Elasticity of Demand 2.4 Price Elasticities of Demand and the Linear Demand Curve 3.1 Income Elasticity of Demand 3.2 Cross-Price Elasticity of Demand 4.1 Definition Price Elasticity of Supply 4.2 Determinants of Price Elasticity of Supply 5.1 Introduction to Per-Unit Taxes 5.2 The distributional effects of tax 5.3 Taxes and Surplus 6.1 Should Black Dog increase the price of their sandwiches? 6.2 Other Applications of Price Elasticity

Week 5
1.1 Introduction to Production 2.1 The Production Process: Demonstration - the production of tennis balls 2.2 The Production Process at a Glance 2.3 The Production Process: Using a Numerical Example 3.1 Introducing Costs: Fixed, Variable & Total Costs 3.2 Marginal Costs 3.3 Cost Curves 4.1 Conclusion to Production: Back to Black Dog 4.2 Conclusion to Production: Applications

Week 6
1.1 Week Overview 2.1 The Maximizing Profit Assumption 2.2 The Profit Equation 2.3 The Profit Maximizing Rule 3.1 Perfect Competition 4.1 Short-run Decision 4.2 Long-run Competitive Output 4.3 Using the Long-run Equilibrium Model 4.4 The Long-run Supply Curve 5.1 Conclusion 5.2 Applications

Week 7
1.1 Introduction to Pricing with Market Power 2.1 Market Structures With Pricing Power 2.2 Sources of Market Power
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Microecon:Main - Coursera

3.1 Marginal Revenue is Less than Price 3.2 Marginal Revenue and the Price Elasticity of Demand 4.1 Perfect Price Discrimination 4.2 Imperfect Price Discrimination 4.3 Other Pricing Strategies 5.1 The Social Cost of Market Power 6.1 Pricing with Market Power: Conclusion

Week 8
1.1 Introduction to Public Goods, Common Resources and Externalities 2.1 How to Classify Goods 2.2 What type of good is this? 3.1 The Public Goods Game 3.2 Public Goods 3.3 Solving the Free Rider 4.1 The Tragedy of the Commons 4.2 How to Deal with the Tragedy of the Commons 5.1 Negative Externalities 5.2 Positive Externalities 5.3 Private Solutions 5.4 Governmental Solutions 6.1 Conclusion to Public Goods, Common Resources and Externalities Retrieved from "https://share.coursera.org/wiki/index.php?title=Microecon:Main&oldid=12756" This page was last modified on 16 June 2013, at 16:44. This page has been accessed 12,817 times. Privacy policy About Coursera Disclaimers

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