Principles of Microeconomics helps students gain a broad understanding of microeconomics concepts. This engaging, interactive course takes students through all the main microeconomics topics.
Through multimodal instruction, interactive practice, and real-world examples, students learn to think as economists and apply basic micro principles to the situations around them.
Included in this new course is a chapter covering fundamental math concepts for students to review before delving into the economics topics that build off that necessary knowledge.
Table of Contents:
Chapter 0: Math Review
| 0.1 |
Addition and Subtraction |
| 0.2 |
Multiplication and Division |
| 0.3 |
Order of Operations |
| 0.4 |
Algebraic Expressions |
| 0.5 |
Basics of Percent |
| 0.6 |
Linear Equations |
| 0.7 |
Graphing |
| 0.8 |
Calculating Area |
| Chapter 0 Review |
Chapter 0 Review |
Chapter 1: Welcome To Economics
| 1.1 |
What Is Economics, and Why Is It Important? |
| 1.2 |
Economic Theories, Models, and Systems |
| Chapter 1 Review |
Chapter 1 Review |
Chapter 2: Choice in a World of Scarcity
| 2.1 |
How Individuals Make Choices Based on Their Budget Constraint |
| 2.2 |
The Production Possibilities Frontier and Social Choices |
| 2.3 |
Confronting Objections to the Economic Approach |
| Chapter 2 Review |
Chapter 2 Review |
Chapter 3: Demand and Supply
| 3.1 |
Demand, Supply, and Equilibrium in Markets for Goods and Services |
| 3.2 |
Shifts in Demand and Supply for Goods and Services |
| 3.3 |
Changes in Equilibrium Price and Quantity: The Four-Step Process |
| 3.4 |
Price Ceilings and Price Floors |
| 3.5 |
Demand, Supply, and Efficiency |
| Chapter 3 Review |
Chapter 3 Review |
Chapter 4: Labor and Financial Markets
| 4.1 |
Demand and Supply at Work in Labor Markets |
| 4.2 |
Demand and Supply in Financial Markets |
| 4.3 |
The Market System as an Efficient Mechanism for Information |
| Chapter 4 Review |
Chapter 4 Review |
Chapter 5: Elasticity
| 5.1 |
Price Elasticity of Demand and Price Elasticity of Supply |
| 5.2 |
Polar Cases of Elasticity and Constant Elasticity |
| 5.3 |
Elasticity and Pricing |
| 5.4 |
Elasticity in Areas Other Than Price |
| Chapter 5 Review |
Chapter 5 Review |
Chapter 6: Consumer Choices
| 6.1 |
Consumption Choices |
| 6.2 |
How Changes in Income and Prices Affect Consumption Choices |
| 6.3 |
Behavioral Economics: An Alternative Framework for Consumer Choice |
| Chapter 6 Review |
Chapter 6 Review |
Chapter 7: Production, Costs, and Industry Structure
| 7.1 |
Explicit and Implicit Costs, and Accounting and Economic Profit |
| 7.2 |
Production in the Short Run |
| 7.3 |
Costs in the Short Run |
| 7.4 |
Production in the Long Run |
| 7.5 |
Costs in the Long Run |
| Chapter 7 Review |
Chapter 7 Review |
Chapter 8: Perfect Competition
| 8.1 |
Perfect Competition and Why It Matters |
| 8.2 |
How Perfectly Competitive Firms Make Output Decisions |
| 8.3 |
Entry and Exit Decisions in the Long Run |
| 8.4 |
Efficiency in Perfectly Competitive Markets |
| Chapter 8 Review |
Chapter 8 Review |
Chapter 9: Monopoly
| 9.1 |
How Monopolies Form: Barriers to Entry |
| 9.2 |
How a Profit-Maximizing Monopoly Chooses Output and Price |
| Chapter 9 Review |
Chapter 9 Review |
Chapter 10: Monopolistic Competition and Oligopoly
| 10.1 |
Monopolistic Competition |
| 10.2 |
Oligopoly |
| Chapter 10 Review |
Chapter 10 Review |
Chapter 11: Monopoly and Antitrust Policy
| 11.1 |
Corporate Mergers |
| 11.2 |
Regulating Anticompetitive Behavior |
| 11.3 |
Regulating Natural Monopolies |
| 11.4 |
The Great Deregulation Experiment |
| Chapter 11 Review |
Chapter 11 Review |
Chapter 12: Environmental Protection and Negative Externalities
| 12.1 |
The Economics of Pollution |
| 12.2 |
Policies to Reduce Pollution |
| 12.3 |
The Benefits and Costs of US Environmental Laws |
| 12.4 |
International Environmental Issues |
| 12.5 |
The Tradeoff between Economic Output and Environmental Protection |
| Chapter 12 Review |
Chapter 12 Review |
Chapter 13: Positive Externalities and Public Goods
| 13.1 |
Why the Private Sector Underinvests in Innovation |
| 13.2 |
How Governments Can Encourage Innovation |
| 13.3 |
Public Goods |
| Chapter 13 Review |
Chapter 13 Review |
Chapter 14: Labor Markets And Income
| 14.1 |
The Theory of Labor Markets |
| 14.2 |
Wages and Employment in an Imperfectly Competitive Labor Market |
| 14.3 |
Market Power on the Supply Side of Labor Markets |
| 14.4 |
Employment Discrimination |
| 14.5 |
Immigration |
| Chapter 14 Review |
Chapter 14 Review |
Chapter 15: Poverty and Economic Inequality
| 15.1 |
Drawing the Poverty Line |
| 15.2 |
The Poverty Trap |
| 15.3 |
The Safety Net |
| 15.4 |
Income Inequality: Measurement and Causes |
| 15.5 |
Government Policies to Reduce Income Inequality |
| Chapter 15 Review |
Chapter 15 Review |
Chapter 16: Information, Risk, and Insurance
| 16.1 |
The Problem of Imperfect Information and Asymmetric Information |
| 16.2 |
Insurance and Imperfect Information |
| Chapter 16 Review |
Chapter 16 Review |
Chapter 17: Financial Markets
| 17.1 |
How Businesses Raise Financial Capital |
| 17.2 |
How Households Supply Financial Capital |
| 17.3 |
How to Accumulate Personal Wealth |
| Chapter 17 Review |
Chapter 17 Review |
Chapter 18: Public Economy
| 18.1 |
Voter Participation and Costs of Elections |
| 18.2 |
Special Interest Politics |
| 18.3 |
Flaws in the Democratic System of Government |
| Chapter 18 Review |
Chapter 18 Review |
Chapter 19: International Trade
| 19.1 |
Absolute and Comparative Advantage |
| 19.2 |
What Happens When a Country Has an Absolute Advantage in All Goods |
| 19.3 |
Intra-industry Trade between Similar Economies |
| 19.4 |
The Benefits of Reducing Barriers to International Trade |
| Chapter 19 Review |
Chapter 19 Review |
Chapter 20: Globalization and Protectionism
| 20.1 |
Protectionism: An Indirect Subsidy from Consumers to Producers |
| 20.2 |
International Trade and its Effects on Jobs, Wages, and Working Conditions |
| 20.3 |
Arguments in Support of Restricting Imports |
| 20.4 |
Trade Policy |
| Chapter 20 Review |
Chapter 20 Review |