Introduction to Economics
Microeconomics vs. Macroeconomics
Positive and Normative Analysis
The Free Rider Problem and the Tragedy of the Commons
Interpreting Graphs, Correlation, Causation, and Omitted Variables
Indifference Curves
Budget Constraint
Marginal Analysis
The Demand Curve
Shifts in the Demand Curve
Movement Along a Demand Curve
Consumer Surplus and Willingness to Pay
Percentage Change and Price Elasticity of Demand
Cross-Price Elasticity of Demand
Income Elasticity of Demand
The Production Function and Diminishing Returns
Revenue, Cost, and Profit
Short Run Shutdown Decision
Long Run Entry and Exit Decision
Long Run Equilibrium
The Supply Curve
Shifts in the Supply Curve
Movement Along a Supply Curve
Producer Surplus and Willingness to Sell
Price Elasticity of Supply
Competitive Markets
Market Equilibrium
Using the Supply and Demand Curves to Find Equilibrium
Effects of Shortage
Economic Surplus and Efficiency
Introducing Taxes and Tax Incidence
Elasticity and Taxes
Effects of Taxes on a Market
Price Ceilings, Price Floors, and Black Markets
Tax Equity
Tax Efficiency
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