MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
In this video, Prof. Gruber discusses the details of the course, what microeconomics is, and the concept of supply and demand.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This video focuses on the demand curve, derived from how consumers make choices, and the supply curve, which is how firms make production decisions.
Chapters
00:00 Title slate
00:11 Lecture Start
01:13 Model Assumptions
05:54 Indifference Curves
09:23 Four Properties
13:27 Real Example ( job search )
15:28 Utility Functions
18:31 Margin Utility
24:49 Marginal Rate of Substitution
30:13 Why graph’s not concave
32:37 (Q) Addictives & MRS
34:31 Price of Different Sizes of Goods
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lecture continues the discussion about consumer choice and what happens when budget constraints are introduced.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
Prof. Gruber begins the lecture by explaining how to derive demand curves. Other topics covered include elasticity of demand, income shifts, and effects of a price change.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This video introduces the second unit of the course about producer theory. Topics include the production function, short-run production, long-run production, rates of technical substitution, returns to scale, and productivity.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lecture continues the discussion about producer theory and covers short-run cost curves and long-run cost curves.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lecture finishes the discussion about costs from Lecture 6, and then the instructor explains perfect competition and short-run profit maximization.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lecture covers the topics of perfect competition, short-run profit maximization, short-run equilibrium, and long-run competition.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lecture covers supply and demand curves, consumer surplus, and producer surplus.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lecture covers the fundamentals of welfare economics, including how competition maximizes welfare and government interventions.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
In this lecture, Prof. Gruber takes what the class has already learned and applies it to more realistic situations, specifically monopoly profit maximization and welfare effects.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lecture focuses on how monopolies arise, regulation of monopolies, and contestable markets.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lectures covers oligopoly, game theory, and the Cournot model.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This video continues the discussion of oligopolies covering the topics of cartels, comparing equilibria, many firms, and price competition.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lecture covers factor markets, the markets that set the price for labor and capital. Prof. Gruber begins by talking about factor demand, then continues with factor supply.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lecture continues to explore factor markets, using minimum wage and the labor market as an example.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
In this lecture, Prof. Gruber continues talking about factor markets by explaining how capital markets influence real world decisions.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This videos covers increasing savings, an important element of growth in an economy, as well as, an introduction to international trade.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This video covers international trade, comparative advantage, the welfare economics of international trade, and how that drives trade policy.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This video explains the economic concept of decision making under uncertainty.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
In this lecture, Prof. Gruber introduces the idea of equity and efficiency, including choosing the socially optimal allocation, inequality, and sources of leakeage.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lecture continues the discussion about equity and efficiency by talking about taxation in the United States and redistribution programs.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lectures covers externalities, which are the costs or benefits that affect a party who did not choose to incur those costs or benefits. Other topics include government solutions and government policy.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lectures covers externalities, which are the costs or benefits that affect a party who did not choose to incur those costs or benefits. Other topics include government solutions and government policy.
License: Creative Commons BY-NC-SA
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
This lecture covers the topic of social insurance, which is government-provided insurance programs. Prof. Gruber also discusses the social insurance standoff and social security.
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MIT 14.01 Principles of Microeconomics, Fall 2018
Instructor: Prof. Jonathan Gruber
View the complete course: https://ocw.mit.edu/14-01F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP62oJSoqb4Rf-vZMGUBe59G-
In this lecture, Prof. Gruber uses the information taught in class to explain the real world example of health economics, and how it plays out in policy and practice
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Lecture 6: Vision 2 Instructor: John Gabrieli View the complete course: http://ocw.mit.edu/9-00SCS11 License: Creative Commons BY-NC-SA
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