Universal Economic LearningPath©
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Chapter |
Chapter and Video Titles |
Video # |
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1 |
WHAT IS ECONOMICS (INTRODUCTION) |
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1.1 |
Scarcity - Defining Economics |
1.1.1 |
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1.2 |
Methodology -What Economists Do |
1.2.1 |
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- Micro and Macroeconomics |
1.2.2 |
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1A |
Appendix - Review of Graphing Concepts - Using Graphs to Understand Direct Relationships |
1A.1 |
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- Plotting A Linear Relationship Between Two Variables |
1A.2 |
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- Changing the Intercept of a Linear Function |
1A.3 |
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- Understanding the Slope of a Linear Function |
1A.4 |
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2 |
PRODUCTION POSSIBILITIES AND GAINS FROM TRADE |
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2.1 |
Production Possibilities & Gains from Trade - Understanding the Concept of Production Possibilities Frontiers |
2.1-1 |
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- Understanding How a Change in Technology Affects the PPF |
2.1-2 |
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- Deriving the Algebraic Equation for the PPF |
2.1-3 |
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2.2 |
Specialization and Gains from Trade - Defining Comparative Advantage with the PPF |
2.2-1 |
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- Understanding Why Specialization Increases Total Output |
2.2-2 |
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- Analyzing International Trade Using Comparative Advantage |
2.2-3 |
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3 |
SUPPLY AND DEMAND |
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3.1 |
Demand - Understanding the Determinants of Demand |
3.1-1 |
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- Understanding the Basics of Demand |
3.1.2 |
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- Analyzing Shifts in the Demand Curve |
3.1.3 |
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- Changing Other Demand Variables |
3.1-4 |
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- Deriving a Market Demand Curve |
3.1-5 |
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3.2 |
Supply - Understanding the Determinants of Supply |
3.2-1 |
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- Deriving a Supply Curve |
3.2-2 |
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- Understanding a change in Supply versus a Change in Quantity Supplied |
3.2-3 |
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- Analyzing changes in Other Supply Variables |
3.2-4 |
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- Deriving a Market Supply Curve from Individual Supply Curves |
3.2-5 |
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3.3 |
Putting Supply and Demand Together - Determining a Competitive Equilibrium |
3.3-1 |
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3.4 |
Comparative Statics - Defining Comparative Statics |
3.4-1 |
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- Classifying Comparative Statics |
3.4-1 |
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4 |
GOVERNMENT INTERFERENCE IN MARKETS |
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4.1 |
Price Restrictions - Understanding How Price Controls Damage Markets |
4.1-1 |
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- Understanding the Problem of Minimum Wages in Labor Markets |
4.1-2 |
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4.2 |
Quantity Restrictions |
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4.3 |
Taxes – Understanding How an Excise Tax Affects Equilibrium |
4.3-1 |
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5 |
ELASTICITY |
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5.1 |
Price Elasticity of Demand - Defining Elasticity |
5.1-1 |
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- Calculating Elasticity |
5.1-2 |
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- Applying the Concept of Elasticity |
5.1-3 |
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5.2 |
The Determinants of the Price Elasticity of Demand - Identifying the Determinants of Elasticity |
5.2-1 |
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5.3 |
The Relationship between Price Elasticity and Total Revenue (or Total Expenditure) |
5.3-1 |
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5.4 |
Other Demand Elasticities |
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5.5 |
Price Elasticity of Supply |
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6 |
CONSUMER THEORY |
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6.1 |
Utility – Understanding Utility Theory |
6.1-1 |
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6.2 |
Optimal Consumer Choice – Finding Consumer Equilibrium |
6.2-1 |
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6A |
Appendix - Consumer Theory Using Indifference Curves and Budget Constraints |
6A-1 |
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6A-2 |
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6A-3 |
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6A-4 |
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6A-5 |
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7 |
PRODUCTION AND COST |
6A-6 |
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7.1 |
An Economist's View of Cost and Profit - Finding Economic Profit |
7.1-1 |
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7.2 |
Production in the Short-Run -Understanding Output, Inputs, and the Short Run |
7.2-1 |
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- Explaining the Total Product Curve |
7.2-2 |
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- Drawing Marginal Product Curves |
7.2-3 |
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- Understanding Average Product |
7.2-4 |
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7.3 |
Short-Run Costs - Defining Variable Costs |
7.3-1 |
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- Graphing Variable Costs |
7.3-2 |
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- Defining Marginal Costs |
7.3-3 |
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- Deriving the Marginal Cost Curve |
7.3-4 |
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- Understanding the Mathematical Relationship between Marginal Cost and Marginal Product |
7.3-5 |
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- Defining Average Variable Costs |
7.3-6 |
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- Understanding the Relationship between Marginal Cost and Average Variable Cost |
7.3-7 |
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- Defining and Graphing Average Fixed Cost and Average Total Cost |
7.3-8 |
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- Calculating Average Total Cost |
7.3-9 |
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- Putting the Cost Curves Together |
7.3-10 |
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- Shifts in the Cost Curves |
7.3-11 |
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7.4 |
Production and Cost in the Long Run - Defining the Long Run |
7,4-1 |
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- Determining the Firm’s Return to Scale |
7.4-2 |
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- Understanding the Short Run and Long Run Average Cost Curves |
7.4-3 |
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7A |
Appendix - Isoquant/Isocost Analysis |
7A-1 |
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7A-2 |
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7A-3 |
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8 |
PERFECT COMPETITION |
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8.1 |
What is a Perfectly Competitive Market? - Understanding the Role of Price |
8.1-1 |
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8.2 |
The Demand and Marginal Revenue for a Perfectly Competitive Firm -Calculating Total Revenue |
8.2-1 |
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8.3 |
Short-Run Profit Maximization -Finding the Firm’s Profit Maximizing Output Level |
8.3-1 |
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- Proving the Profit Maximizing Rule |
8.3-2 |
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- Calculating Profit |
8.3-3 |
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- Calculating Loss |
8.3-4 |
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8.4 |
The Short-Run Decision to Shut Down -Finding the Firm’s Shut-Down Point |
8.4-1 |
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8.5 |
A Perfectly Competitive Firm's Short-Run Supply Curve - Deriving the Short-Run Market Supply |
8.5-1 |
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8.6 |
Competition in the Long Run |
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8.7 |
A Competitive Firm's Long-Run Supply Curve -Deriving the Long-Run Market Supply Curve |
8.7-1 |
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9 |
MONOPOLY |
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9.1 |
Barriers to Entry - Defining Market Power |
9.1-1 |
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9.2 |
Marginal Revenue for a Price-Setting Firm - Defining Marginal Revenue for a Firm with Market Power |
9.2-1 |
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9.3 |
Profit Maximization for a Monopoly - Determining the Monopolist’s Profit Maximizing Output and Price |
9.3-1 |
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- Calculating a Monopolist’s Profit and Loss |
9.3-2 |
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9.4 |
The Social Cost of Monopoly - Determining the Social Cost of Monopoly |
9.4-1 |
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- Calculating Deadweight Loss |
9.4-2 |
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9.5 |
Price Discrimination |
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10 |
MONOPOLISTIC COMPETITION |
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10.1 |
Description of Imperfect Competition: Monopolistic Competition and Oligopoly - Understanding Market Structure |
10.1-1 |
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- Defining Monopolistic Competition |
10.1-2 |
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10.2 |
Short-Run Profit Maximization for a Monopolistically Competitive Firm - Understanding Pricing and Output in Monopolistic Competition |
10.2-1 |
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10.3 |
Long-Run Equilibrium in Monopolistic Competition |
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10.4 |
Advertising and Brand Names - Understanding Monopolistic Competition as a Prisoner’s Dilemma |
10.4-1 |
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11 |
OLIGOPOLY |
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11.1 |
Market Concentration |
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11.2 |
Interdependence between Firms in an Oligopoly - Introducing Oligopoly and the Prisoner’s Dilemma |
11.2-1 |
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11.3 |
Game Theory - The Prisoners' Dilemma - Understanding a Cartel as a Prisoner’s Dilemma |
11.3-1 |
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- For $1.98: "Kinked Demand Curve Model" at: http://mindbites.com/lesson/7742-economics-kinked-demand-curve-model |
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12 |
FACTOR MARKETS |
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12.1 |
The Derived Demand for Factors of Production - Deriving the Factor Demand Curve |
12.1-1 |
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12.2 |
The Supply of Labor |
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12.3 |
Labor Markets - The Determination of Wages - Analyzing the Labor Market |
12.3-1 |
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13 |
INCOME INEQUALITY AND DISCRIMINATION |
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13.1 |
Measurements of Income Inequality - Income Distribution in the U.S. and the Poverty Level |
13.1-1 |
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13.2 |
Poverty |
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13.3 |
Discrimination in Labor Markets |
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14 |
EXTERNALITIES |
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14.1 |
Negative Externalities - Defining Externalities |
14.1-1 |
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14.2 |
Positive Externalities ERROR – ALSO “DEFINING EXTERNALITIES” |
14.2-1 |
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14.3 |
Internalizing an Externality - Explaining How to Internalize External Costs |
14.3-1 |
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- Explaining How to Internalize External Benefits |
14.3-2 |
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14.4 |
Coase Theorem - Finding a Market Solution to External Costs |
14.4-1 |
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- Finding a Negotiated Settlement to an External Cost |
14.4-2 |
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- Applying the Coase Theorem |
14.4-3 |
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15 |
PUBLIC ECONOMICS |
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15.1 |
Public Goods - Defining Public Goods |
15.1-1 |
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15.2 |
Public Choice Theory - Analyzing the Tax System |
15.2-1 |
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- Understanding Public Choice |
15.2-2 |
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