Microeconomics
How individual households, firms, and markets actually make decisions — the toolkit underneath every policy debate about prices, competition, and welfare.
What the four units cover
Adapted from MIT OpenCourseWare's 14.01 Principles of Microeconomics.
Consumer Theory
Introduction & supply and demand; preferences and utility functions; budget constraints and constrained choice; demand curves and income/substitution effects.
Producer Theory & Competitive Markets
Production theory; costs; competition I & II; supply, demand, and consumer/producer surplus; welfare economics.
Market Power & Factor Markets
Monopoly I & II; oligopoly I & II; input markets — labor and capital; making choices over time.
Trade, Risk & Policy
International trade, welfare and policy; uncertainty and social insurance; efficiency and equity; taxation and redistribution; externalities; behavioral and healthcare economics.
Who this is for
Everyone — from complete beginners to those looking to deepen existing knowledge. The only prerequisite is an interest in economics.