Learn Microeconomics


Here is a set of links to my YouTube videos that go with my self-published textbook.  I hope you will find these resources useful in learning microeconomics.

Microeconomics Basics

Moving versus shifting demand curves
Graphing a Linear Demand Curve
Algebra of Supply and Demand
Why Taxes and Producers and Taxes on Consumers Have the Same Effect
Normative vs. Positive (The Wide Scope of Economics)
Basics of Elasticities
Inelastic Means Paying More Taxes
Marginal Benefit Equals Marginal Cost
Consumer Surplus and Producer Surplus
Deadweight Loss and The Efficiency Criterion
International Trade and Efficiency
Price Ceilings and Price Floors
Externalities and Welfare
Negative Externalities: When Bystanders Say Ouch
Externalities and The Coase Theorem

Foundations of Consumer Behavior

Introduction to Preferences
Drawing Indifference Curves with Bads
Marginal Rate of Substitution and Marginal Utility
*Marginal Rate of Substitution and Marginal Utility (with Calculus)
*Computing Marginal Rate of Substitution (an example)
*Marginal Rate of Substitution and Monotonic Transformations of Utility
Budget Constraints and Utility Maximization
The Labor-Leisure Problem
Indifference Curves and Portfolio Choice
An Example of Indifference Curve Analysis
Where do demand curves come from?
*Deriving Demand using Calculus
*Cobb-Douglas Utility and Demand
*Quasilinear Utility and Demand
Income and Substitution Effects
The Giffen Good (When Demand Slopes Upward)
*The Slutsky Equation and Demand Curves
Why Diminishing Marginal Utility Does NOT Mean Downward Sloping Demand
*Budget Constraint Elasticities (Calculus-Based)
Compensating Variation and Equivalent Variation
*More on CV and EV

Production and Costs

Marginal Benefit Equals Marginal Cost
Mapping Consumer Theory to Producer Theory
Short Run Production, Marginal and Average Product
Short Run Cost Curves from Short Run Production
Price-taking firms, supply and marginal cost
Industry supply, and the role of entry and exit

Adding Demand and Supply Curves Horizontally
Relating short run and long run cost curves
*Cost Minimization, Production and Lagrangians

Monopoly and Imperfect Competition

Monopoly Basics
*Marginal Revenue for a Monopolist Facing Linear Demand
The Deadweight Loss of Monopoly
*Monopoly on the Elastic Portion of Demand
Intuition for Monopoly and Elasticity
Introduction to Price Discrimination (First Degree Price Discrimination)
Second Degree Price Discrimination
Third Degree Price Discrimination
Cournot, Bertrand and Stackelberg Competition
*Cournot Competition
*Bertrand Competition

Questions and Answers

Intuition for the Law of Demand
Sunk Costs
Why Set Price Equal to Marginal Cost? (if you're a price taker)
Why Firms Should Produce if Price Exceeds AVC
Finding the Minimum of AC and AVC: An Example
Cost Concepts
Working with Demand Examples
An Income Elasticity Example

Other Economics Videos

*The Envelope Theorem (Part I): Proof and start of applications
*The Envelope Theorem (Part II): Applications
Externalities and Welfare
Negative Externalities: When Bystanders Say Ouch.
Externalities and The Coase Theorem
The Coase Theorem in the Edgeworth Box
Introduction to Game Theory
Extensive Form Games and Backward Induction
Budget Constraints in an Endowment Economy
Introduction to Edgeworth Box Economies
Pareto Efficiency and the Edgeworth Box
The Coase Theorem in the Edgeworth Box

Probability and Statistics

Regression 1: Slope and Intercept
Regression 2: Correlation and Regression
Regression 3: Sums of Squares and R-squared
ANOVA
Probability Concepts and Axioms
Random Variables and Random Vectors
Distributions and Densities
Expectation and Variance of a Random Variable
Joint, Marginal and Conditional Distributions
Some Useful Properties of Covariance
Iterated Expectations
Sampling Distribution of the Sample Mean
Why is Correlation Less than One?
The Weak Law of Large Numbers
Applying the Continuous Mapping Theorem
Simple Linear Regression.  Population First Approach.

Blog Articles Related to Microeconomics

Netflix Economics II: The difference between free and fee. Imperfect Competition.
Children: Normal or Inferior?  Consumer Theory.
Negative Exernalities in Picture Form.  Market Failure.
A First Lesson on Producer Theory.  Producer Theory.
Commitment.  Game Theory.
Subgame Perfect?  Not bad.  Game Theory.
An example of price discrimination (Costco).  Pricing.
Why online education won't replace classroom education. General.
Preferences and Economics Nobel Rankings.  Consumer Theory.
Price Discrimination and Car Rentals.  Pricing.
When does it pay to burn money?  Game Theory.
Pondering complements. Consumer Theory.
Price Discrimination Everywhere: Baseball Edition. Pricing.
What does economics say about setting a price?  Pricing.
Why rising house prices and rising home prices are different. Endowment Economies
What is math?  General.
Diamonds and Water. Welfare Analysis.
On Labor (on Labor Day).  Consumer Theory.