Topic Name Description
Course Introduction Page Course Syllabus
1.1: Definition of Economics URL What Is Economics?

Read this chapter. Think about how economists frame their analysis and the kinds of tools they use. Consider how opportunity cost and a cost-benefit analysis relate to each other.

URL Ticket Scalping and Opportunity Cost

Listen to this lecture.

1.2: Supply and Demand URL Supply and Demand

Read this chapter. Think about how a change in demand or supply is different from a change in quantity demanded or supplied.

URL More on Supply and Demand

Listen to lectures 1 and 2.

1.3: Elasticity URL Quantification

Read this chapter. Consider how elasticity is applied by business economists and its usefulness as a practical economic tool.

URL Elasticity
1.4: Government and the Market URL Government Interventions

Read this chapter. Who wins and loses when a tax law is adjusted? How might special interest groups influence tax laws?

Page The Effect of a Tax

Watch this video. The associated spreadsheet for this video is the second one in this workbook. Explore the various changes caused by taxation and its effect on elasticity.

2.1: Trade URL Trade

Read this chapter. How does the production possibilities curve relate to specialization? What is its role in calculating comparative and absolute advantage?

URL Production: General Pricing of the Factors

Listen to this lecture.

Page Production Possibilities

Watch this lecture. Consider the role of the production possibilities curve as a defining frontier.

2.2: Externalities URL Externalities

Read this chapter. Compare the role of individuals and society in maximization problems. When can a case be made to intervene in a market?

2.3: Public Goods URL Public Goods

Read this chapter. Think about the nature of public goods and non-excludability. What is the role of geographic proximity to public good problems?

3.1: Costs URL Producer Theory: Costs

Read this chapter. How do constraints on a firm circumscribe its options? What is the role of shadow values as these constraints are relaxed?

Page Profit Max Single Variable

Watch these videos and follow along as profit maximization is considered from various perspectives.

3.2: Dynamics URL Producer Theory: Dynamics

Read this chapter. Think about how costs vary with economies of scale of scope. What role does technology play?

3.3: Investment URL Investment

Read this chapter. Ponder the 2008 financial crisis and the role of uncertainty in investment. What role does the government play in uncertainty and risk?

URL Present Value Prices and the Real Interest Rate

Listen to this lecture.

4.1: Consumer Theory URL Consumer Theory

Read this chapter. What is the role of utility (the flow of happiness over time)? Do individuals truly maximize their happiness relative to a budget? 

Page Income and Substitution Effects and Expected Utility Hypothesis

Watch these videos. The associated spreadsheet for this video is the fourth one in this workbook. Explore the various changes caused by the income and substitution effects.

4.2: Applied Consumer Theory URL Applied Consumer Theory

Read this chapter. Reflect on how environments change and how individuals adapt to evolving circumstances. How do consumers adapt as they learn new information?

URL University of California, Berkeley: Glenn Woroch's "Economics 100A"

Listen to Lecture 4.

4.3: Equilibrium URL Introduction to Economic Analysis: "Chapter 14: General Equilibrium"

Read this chapter. Consider a zero-sum game. Is it always true that to make one person better off another must be made worse off?

5.1: Monopoly URL Monopoly

Read this chapter. A monopoly has 100% of a market. What monopolies exist in your area? What role does regulation play in preventing monopolies?

Page Monopoly Pricing and Allocating Surplus

Watch these videos. What is the role of deadweight loss? How does it affect society?

5.2: Game Theory URL Game Strategic Behavior

Read this chapter. Ponder the basic decision to cooperate or compete in a game. What broader implications does this have for business economists?

5.3: Imperfect Competition URL Imperfect Competition

Read this chapter. Oligopolies are closely related to game theory. Can you explain how the two are related in terms of their underlying theories?

5.4: Uncertainty and Information URL Information

Read this chapter. Think about the role of signaling in your life. How much time, money, and effort do you expend to convince others of something?

5.5: Auctions URL Auctions

Read this chapter. Think about the role of information in the auction process. How clear and transparent are most auctions? What are some imperfections in auctions?

Course Feedback Survey URL Course Feedback Survey