Microeconomics- Everything You Need to Know
2114101 , 5.00 / #Microeconomics / tp fo4
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In this video I cover all the concepts for an introductory microeconomics course and AP course. I go super fast so don’t take notes. Focus on the big picture ideas, identfy what you still need to practoce, and go back and watch my Unit Summary videos.
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I cover scarcity, opportunit costs, the PPC, comparative advantage, demand, supply, ceilings, floors, shifts, elasticity, taxes, consumer suprlus, consumer choice, costs of production, perfect competition, monopolies, opligopolies, mono[olistic competition, labor markets and firms, monopsonies, public goods, externalities, and the Lorenz curve. Wow! That’s a lot. Get ready. Here we go!!!!!!!!!!!!!
Thank you to Austin for organizing the following:
Unit 1
1:00 Basics
1:13 PPC
2:17 Absolute & Comparative Advantage
3:07 Circular Flow Model
Unit 2
4:04 Demand & Supply
5:26 Substitutes & Compliments
5:36 Normal & Inferior Goods
5:46 Elasticity
7:35 Consumer & Producer Surplus
7:52 Price Controls, Ceilings & Floors
8:37 Trade
9:08 Taxes
9:56 Maximizing Utility
Unit 3
11:03 Production, Inputs & Outputs
11:16 Law of Diminishing Marginal Returns
11:36 Costs of Production
13:00 Economies of Scale
13:37 Perfect Competition
14:25 Profit-Maximizing Rule, MR=MC
15:20 Shut down Rule
16:05 Accounting & Economic Profit
16:30 Short-Run, Long-Run
16:56 Productive & Allocative Efficiency
Unit 4
18:02 Monopoly
18:53 Natural Monopoly
20:01 Price Discrimination
20:22 Oligopoly
20:31 Game Theory
20:42 Monopolistic Competition
Unit 5
21:51 Derived Demand
22:07 Minimum Wage
22:19 MRP & MRC
22:52 Labor Market
23:30 Monopsony
24:05 Least-Cost Rule
Unit 6
25:11 Market Failures
25:27 Public Goods
26:00 Externalities
27:21 Lorenz Curve
27:44 Gini Coefficient
27:53 Types of Taxes
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