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