- From www.edx.org
AP® Microeconomics
- Self-paced
- Free Access
- Fee-based Certificate
- 12 Sequences
- Introductive Level
Course details
Syllabus
Unit 1. Basic Economic Concepts: Opportunity Cost, Consumer Preferences, Budget Constraints, Utility Maximization
Unit 2. Supply and Demand: Shifts of Supply and Demand, Elasticity, Income and Substitution Effects, Consumer and Producer Surplus, Taxes, International Trade
Unit 3. Production, Cost, and the Perfect Competition Model: Short-Run and Long-Run Production, Short-Run and Long-Run Supply, Profit Maximization, Perfect Competition
Unit 4. Imperfect Competition: Monopoly, Oligopoly, Game Theory, Ologopolistic and Monopolistic Competition
Unit 5. Factor Markets: Labor Supply and Demand, Monopsony, Capital Markets
Unit 6. Market Failures and the Role of Government: Efficiency-Equity Tradeoff, Externalities, Redistribution, Public Goods
Prerequisite
Instructors
Jonathan Gruber
Ford Professor of Economics
MIT
Editor
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MIT is independent, coeducational, and privately endowed. Its five schools and one college encompass numerous academic departments, divisions and degree-granting programs, as well as interdisciplinary centers, laboratories and programs whose work cuts across traditional departmental boundaries.
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