Microeconomics: An Introductory Economics Course

Unit 1: Introduction to Economics

Welcome: An Introduction to Economics

Lesson 1: The Study of Economics

Lesson 2: Scarcity, Choice, Opportunity Cost, and Utility

Lesson 3: The Basic Economic Problem

Lesson 4: The Factors of Production

Lesson 5: Production Possibility Curve

Lesson 6: The Nine Central Themes of IB Economics

Lesson 7: Microeconomics and Macroeconomics

Lesson 8: Positive and Normative Economics

Lesson 9: Rational Economic Thinking

Study Break

Lesson 10: Model Building

Lesson 11: The Circular Flow of Income Model

Lesson 12: Free Market vs Planned Economies

Lesson 13: Economic Growth vs Economic Development

Lesson 14: Closing Remarks to Introduction to Economics

Unit 2: The Evolution of Economic Thinking

Lesson 1: Introduction to the Evolution of Economic Thinking

Lesson 2: Classical Economics - The 18th Century

Lesson 3: Classical Economics - The 19th Century

Lesson 4: Neoclassical Economics - 19th Century

Lesson 5: Karl Marx's Critique of Classical Economics

Lesson 6: Keynesian Economics - The 20th Century

Lesson 7: Monetarism (New Classical) Economics - 20th Century

Lesson 8: Behavioral Economics - 21st Century

Lesson 9: The Circular Economy and The Doughnut Economy - 21st Century

Lesson 10: Closing Remarks on the Evolution of Economic Thought

Unit 3: Demand, Supply, and Market Equilibrium

Lesson 1: Introduction to Demand, Supply, and Market Equilibrium

Lesson 2: The Law of Demand

Lesson 3: The Determinants of Demand

Lesson 4: The Law of Supply

Lesson 5: The Determinants of Supply

Lesson 6: The Rule of 11 - The Basic Demand and Supply Diagram

Study Break

Lesson 7: Market Equilibrium

Lesson 8: The Effects of Shifts of Demand and Supply

Lesson 9: The Role of Price Mechanism

Lesson 10: Market and Allocative Efficiency

Lesson 11: Closing Remarks on Demand, Supply, and Market Equilibrium

Unit 4: Behavioral Economics

Lesson 1: Introduction Behavioral Economics - A Critique of Rational Economic Thought

Lesson 2: Assumptions of Neoclassical View of Economics

Lesson 3: Introduction to Behavioral Economics

Lesson 4: Behavioral Economics - Critique of Consumers' Rational Thinking

Lesson 5: Behavioral Economics - The Dual System Model

Lesson 6: Behavioral Economics - Cognitive Biases

Lesson 7: Behavioral Economics - Choice Architecture

Lesson 8: Behavioral Economics - Nudge Theory

Lesson 9: Closing Remarks on Behavioral Economics

Unit 5: Elasticities

Lesson 1: Elasticities: Introduction and Overview

Lesson 2: Price Elasticity of Demand (PED)

Lesson 3: Price Elasticity of Demand - Applications

Lesson 4: Price Elasticity of Demand - The Diagram

Lesson 5: Price Elasticity of Demand - Determinants

Lesson 6: Cross Elasticity of Demand (XED)

Lesson 7: Income Elasticity of Demand (YED)

Lesson 8: Importance of Income Elasticity of Demand

Study Break

Lesson 9: Price Elasticity of Supply (PES)

Lesson 10: Price Elasticity of Supply - Applications

Lesson 11: Price Elasticity of Supply - Determinants

Lesson 12: Closing Remarks on Elasticity

Unit 6: Government Intervention

Lesson 1: Introduction to Government Intervention

Lesson 2: Indirect Taxes

Lesson 3: Indirect Tax Diagram

Lesson 4: Per-Unit Subsidies

Lesson 5: Per-Unit Subsidy Diagram

Study Break

Lesson 6: Price Controls - Introduction

Lesson 7: Price Ceiling Diagram

Lesson 8: Price Floor Diagram

Lesson 9: Closing Remarks on Government Intervention

Unit 7: Market Failure

Lesson 1: Introduction to Market Failure

Lesson 2: Market and Allocative Efficiency

Lesson 3: Market Failure Base Diagram

Lesson 4: Negative Externality of Consumption - The Diagram

Lesson 5: Negative Externality of Consumption - The Solutions

Lesson 6: Negative Externality of Production - The Diagram

Lesson 7: Negative Externalities of Production - The Solutions

Lesson 8: Positive Externality of Consumption - The Diagram

Lesson 9: Positive Externality of Consumption - The Solutions

Lesson 10: Positive Externality of Production - The Diagram

Lesson 11: Positive Externality of Production - The Solutions

Lesson 12: Common Access Resources

Lesson 13: Closing Remarks on Market Failure

Congratulations. Closing Thoughts on Microeconomics

Lesson 2: The Law of Demand

Microeconomics: An Introductory Economics Course Unit 3: Demand, Supply, and Market Equilibrium

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Microeconomics: An Introductory Economics Course

Lesson 2: The Law of Demand

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