Long Form Lectures: The Lectures Below are slightly modified versions from an online course I am teaching in 2018. I am using the Introductory book from McConnell, Brue, and Flynn (21st Edition). These are longer, full lectures (with a few shorter ones). If you want a real course in economics- buy the book and follow along! I will have a lot of handouts you can download, so that you can follow along with the notes, graphing, and calculations. Handouts Page We will cover chapters: 1 (What is Economics) | 6 (Elasticity) | 9 (Business & Costs of Production) | 2 (Market System/Circular Flow) | 7 (Utility Maximization) | 10 (Pure Competition: Short Run) | 3 (Supply and Demand) | 23 (Income Inequality) | 11 (Pure Competition Long Run) | 4 (Market Failures, Public Goods, Externalities, Consumer Surplus) | | 12 (Monopoly) |
Chapter 1 Overview of Economics Overview Part 2 Opportunity Cost & Budget Production Possibilities Math Review Graphing Tool & Review Specialization and Trade | Economics: Introduction, Scarcity and Opportunity Costs Micro/Macro, Scarcity, Cost/Benefit Resources, Marginal Analysis, Opportunity Cost, Models Handout Illustrating the idea of opportunity cost using Budget Lines and Slopes Handout Production Possibilities Curves (Frontiers) Handout Graphing lines, slopes, solving equations, & percentage changes Handout A Cool Google Graphing tool for Economics, and Graphing Concepts Comparative Advantage and Trade using Production Possibilities Handout | Chapter 2 Markets & Specialization Barter, Money, 5 Questions Circular Flow Model | Markets & Circular Flow Adam Smith Quotes, Voluntary Trade, Advantages of Markets Handout How money is more efficient than barter, and the the "5 Fundamental Questions" About the basic model, extensions, and a REAL model with water! Handout | Chapter 3 Demand Supply and Equilibrium Shifts in Equilibrium S&D Details, and 2 Shifts | Supply and Demand All about demand, quantity demanded, and what can shift demand. Handout All about Supply, and what is Equilibrium? What if we aren't in equilibrium? Some examples of supply or demand shifting. Print some free graph paper! WHY does demand slope downward? And when S&D both shift | Chapter 4 Surplus & DWL Intro Public and Private Goods Positive Externalities Negative Externalities Efficiency of Markets | Surplus, Deadweight Loss, Externalities and Public Goods How to calculate consumer and producer surplus, variable costs, etc. Handout Characteristics of Public and Private Goods; How to Analyze Handout What a positive externality is, and why these things should be encouraged. What a negative externality is, how they create deadweight loss. How competitive markets can result in Productive and Allocative Efficiency | Chapter 6 Intro to Elasticities Other Elasticities Calculating Elasticities Linear Demand & Revenue Elasticity Quiz | Elasticity Introduction to the idea of elasticities, Price Elasticity of Demand Handout Price Elasticity of Supply, and Cross-price/Income elasticities of demand Simple version and the Midpoint Method for percentage Changes How P.E.of Demand Changes along demand line, & the Total Revenue Test! 7 Questions: Easy through Beast Mode! Handout | Chapter 7 Intro to Utility Marginal Utility per $
| Utility Analysis Diminishing Marginal Utility, Diamond-Water Paradox, maximization Handout Using marginal utility per dollar to maximize utility Handout | Chapter 23 Income Inequality Poverty Why Incomes Aren't Equal Discrimination | Income Inequality, Poverty, and Discrimination Measures of Household Income Inequality (Lorenz, Gini) Handout How poverty is measured in the US and the world. (Continue previous handout) A discussion of why some people make more than others, with a look at gender A brief look at discrimination from an economist's perspective Handout
| Chapter 9 Intro to Costs Production Profit: Acct. vs. Economic | Costs and Intro to Business Analysis An introduction to costs and using them in decision making. Handout Marginal product, increasing and diminishing marginal returns, etc. Handout Also discuss implicit & explicit costs, depreciation, and more! | Chapter 10 Introduction to Pure Comp. Cost Table Analysis Drawing Market Supply
| Perfect (Pure) Competition Overview of 4 common market models, and total revenue vs. total cost. Handout Using tables to understand pure competition decision making (see previous handout) How a cost table for ONE firm related to market supply curve Handout | Chapter 11 Long Run Introduction Excel Simulation Returns to Scale, Etc.
| Pure Competition in the Long Run Some "big ideas" that follow from Pure Competition in the long run. Handout A dynamic spreadsheet with taxes, # firms, and more! Excel File The difference between Returns to Scale and Decreasing Cost Industry Handout
| Chapter 12 Marginal Revenue Details about Monopolies Mastering Monopolies | Monopolies What Marginal Revenue is and how to use it for PC and Monopoly Handout Barriers to entry, MR and MC again, and basic price discrimination. Handout Starting with Pure Competition, what if a monopoly took over? Handout
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Videos for McConnell, Brue and Flynn: 21st Edition! |