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Massachusetts Institute of Technology

Principles of Microeconomics (Fall 2018)

Massachusetts Institute of Technology via MIT OpenCourseWare

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Overview

Course Features
  • Video lectures
  • Captions/transcript
  • Lecture notes
  • Assignments: problem sets with solutions
  • Exams and solutions
Educator Features
  • Instructor insights
  • Podcast - audio
Course Description

This introductory undergraduate course covers the fundamentals of microeconomics. Topics include supply and demand, market equilibrium, consumer theory, production and the behavior of firms, monopoly, oligopoly, welfare economics, public goods, and externalities.

Chalk Radio Podcast

Prof. Jonathan Gruber was featured in an episode of OpenCourseWare's podcast, Chalk Radio. In the episode "Thinking Like an Economist," Prof. Gruber talks about how he engages students in 14.01 with accessible real world examples. Listen to the episode on Apple Podcasts.

Syllabus

1. Introduction and Supply & Demand.
2. Preferences and Utility Functions.
3. Budget Constraints and Constrained Choice.
4. Demand Curves and Income/Substitution Effects.
5. Production Theory.
6. Costs.
7. Competition I.
8. Competition II.
9. Supply and Demand & Consumer/Producer Surplus.
10. Welfare Economics.
11. Monopoly I.
12. Monopoly II.
13. Oligopoly.
14. Oligopoly II.
15. Input Markets I—Labor Market.
16. Input Markets II—Labor and Capital.
17. Making Choices Over Time.
18. Increasing Savings & Introduction to Trade.
19. International Trade: Welfare and Policy.
20. Uncertainty.
21. Efficiency and Equity.
22. Government Redistribution and Taxation.
23. Market Failures I: Externalities.
23. Market Failures I: Externalities.
24. Market Failures II: Informational Asymmetry.
25. Health Economics.

Taught by

Prof. Jonathan Gruber

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Reviews

5.0 rating, based on 6 Class Central reviews

Start your review of Principles of Microeconomics (Fall 2018)

  • Profile image for Muhammad Tariq Khan
    Muhammad Tariq Khan @mtkhan006
    Completing the "Principles of Microeconomics (Fall 2018)" course was a highly informative and engaging experience. The course material was well-organized, and the instructor's teaching style made complex economic concepts easy to comprehend. It deepened my understanding of microeconomics and its practical applications. I highly recommend this course to anyone interested in the subject.
  • Profile image for Daksh Khandelwal
    Daksh Khandelwal
    Are you curious about how markets work? Do you want to understand the forces that shape prices and influence consumer decisions? If so, then the MIT OpenCourseWare (OCW) "Principles of Microeconomics" (Fall 2018) course might be the perfect place to…
  • Profile image for Shlok Jain
    Shlok Jain
    I would recommend this course to everyone because it really helps you understand the Microeconomics deeply. This course has given me a lot of knowledge about how the markets work and how our government plays a very important role in supporting the economy of a country. This course is good for students who want to pursue economics or learn about how a country's economy works.
  • Profile image for Muhammad Saad Khan
    Muhammad Saad Khan
    A study guide to help make sure you don’t miss any important concepts when you start your review of microeconomics. Although there are a lot fewer mathematical calculations required for the Advanced Placement Microeconomics exam, a few are guarante…
  • Profile image for Muhammad Ahmad Mazher
    Muhammad Ahmad Mazher
    From basic to higher level of economic course.. its really wonderful course and I had learned a lot from this course. More a need to introduce the econometrics basic to master level course for economic researchers and analysts.
  • Profile image for Snehil Makwana
    Snehil Makwana
    leave you more than 100 Phrases of thanks And words to thank friends, family, siblings, spouses, wives, boyfriends, girlfriends, grandparents and in general any kind of person. They are words, thoughts, messages and reflections that you can use at any time.

    Giving thanks is always important to feel good about yourself and of course for the other person. You will build better relationships and you will feel more happiness.
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