Game theory and Nash equilibrium (Khan Academy)

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(1) Why parties in a cartel will cheat Why parties to cartels cheat Game theory of cheating firms

Forms of competition (Khan Academy)

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(1) Monopoly Monopoly basics Monopolist optimizing price: Total revenue. Monopolist optimizing price: Marginal revenue Monopolist optimizing price: Dead weight loss Optional calculus proof to show that MR has twice slope of demand Review of revenue and cost graphs for a monopoly (2) Between perfect competition and monopoly Oligopolies and monopolistic competition Monopolistic competition and economic […]

Production decisions and economic profit (Khan Academy)

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Economic profit vs. accounting profit. Average total cost (ATC) and marginal cost (MC). Marginal product of labor (MPL). Price discrimination. (1) Economic profit and opportunity cost Economic profit vs accounting profit Depreciation and opportunity cost of capital (2) Average costs (ATC, MC) and marginal revenue (MR) Marginal cost and average total cost Marginal revenue and […]

Scarcity, possibilities, preferences and opportunity cost (Khan Academy)

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How do you decide what to produce or trade? How can you maximize happiness in a world of scarcity. What are you giving up when you choose something (i.e., opportunity cost)? (1) Production possibilities frontier Production possibilities frontier Opportunity cost Increasing opportunity cost Allocative efficiency and marginal benefit Economic growth through investment (2) Comparative advantage […]

Consumer and producer surplus (Khan Academy)

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(1) Deadweight loss Rent control and deadweight loss Minimum wage and price floors Taxation and dead weight loss Percentage tax on hamburgers Taxes and perfectly inelastic demand Taxes and perfectly elastic demand (2) Public goods and externalities Negative externalities Taxes for factoring in negative externalities Positive externalities Tragedy of the commons

Elasticity (Khan Academy)

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Price elasticity of demand and supply. How sensitive are things to change in price. (1) Price elasticity Price elasticity of demand More on elasticity of demand Perfect inelasticity and perfect elasticity of demand Constant unit elasticity Total revenue and elasticity More on total revenue and elasticity Cross elasticity of demand Elasticity of supply Elasticity and […]

Supply, demand, and market equilibrium (Khan Academy)

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The core ideas in microeconomics. Supply, demand and equilibrium. (1) Introduction to economics Introduction to economics (2) The demand curve Law of demand Law of demand Price of related products and demand Change in expected future prices and demand Changes in income, population, or preferences Normal and inferior goods Inferior goods clarification What factors change […]

Khan Academy

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Khan Academy is perhaps the best known free collection of online courses. The subjects span a great range of topics, including everything from math and science to art history. According to their about page: Our mission is to provide a free, world‑class education for anyone, anywhere. A full list of the subjects they offer is […]