External

ECN-1050: Principles of Microeconomics

Social Sciences

Publisher: Prince George's Community College
Source: LibreTexts
Language: EN
Category: Economics

Read online Download PDF (open licence)

Contents· 134 sections

01: Welcome to Economics
1.01: Prelude to Economics
1.02: What Economics Is and Why It's Important
1.03: Microeconomics and Macroeconomics
1.04: How Economists Use Theories and Models to Understand Economic Issues
1.05: How Economies Can Be Organized- An Overview of Economic Systems
02: Choice in a World of Scarcity
2.01: Prelude to Choice in a World of Scarcity
2.02: How Individuals Make Choices Based on Their Budget Constraint
2.03: The Production Possibilities Frontier and Social Choices
2.04: Confronting Objections to the Economic Approach
03: Demand and Supply
3.01: Introduction to Demand and Supply
3.02: Demand Supply and Equilibrium in Markets for Goods and Services
3.03: Shifts in Demand and Supply for Goods and Services
3.04: Changes in Equilibrium Price and Quantity- The Four-Step Process
3.05: Price Ceilings and Price Floors
3.06: Demand Supply and Efficiency
04: Labor and Financial Markets
4.01: Introduction to Labor and Financial Markets
4.02: Demand and Supply at Work in Labor Markets
4.03: Demand and Supply in Financial Markets
4.04: The Market System as an Efficient Mechanism for Information
05: Elasticity
5.01: Introduction to Elasticity
5.02: Price Elasticity of Demand and Price Elasticity of Supply
5.03: Polar Cases of Elasticity and Constant Elasticity
5.04: Elasticity and Pricing
5.05: Elasticity in Areas Other Than Price
06: Consumer Choices
6.01: Prelude to Consumer Choices
6.02: Consumption Choices
6.03: How Changes in Income and Prices Affect Consumption Choices
6.04: Labor-Leisure Choices
6.05: Intertemporal Choices in Financial Capital Markets
6.E: Consumer Choices (Exercises)
07: Cost and Industry Structure
7.01: Prelude to Cost and Industry Structure
7.02: Explicit and Implicit Costs and Accounting and Economic Profit
7.03: The Structure of Costs in the Short Run
7.04: The Structure of Costs in the Long Run
7.E: Cost and Industry Structure (Exercises)
08: Perfect Competition
8.01: Prelude to Perfect Competition
8.02: Perfect Competition and Why It Matters
8.03: How Perfectly Competitive Firms Make Output Decisions
8.04: Entry and Exit Decisions in the Long Run
8.05: Efficiency in Perfectly Competitive Markets
8.E: Perfect Competition (Exercises)
09: Monopoly
9.01: Introduction
9.02: How Monopolies Form- Barriers to Entry
9.03: How a Profit-Maximizing Monopoly Chooses Output and Price
9.E: Monopoly (Exercises)
10: Monopolistic Competition and Oligopoly
10.01: Introduction
10.02: Monopolistic Competition
10.03: Oligopoly
10.E: 10.E-Monopolistic Competition and Oligopoly (Exercises)
11: Monopoly and Antitrust Policy
11.01: Prelude to Monopoly and Antitrust Policy
11.02: Corporate Mergers
11.03: Regulating Anticompetitive Behavior
11.04: Regulating Natural Monopolies
11.05: The Great Deregulation Experiment
12: Environmental Protection and Negative Externalities
12.01: Introduction
12.02: The Economics of Pollution
12.03: Command-and-Control Regulation
12.04: Market-Oriented Environmental Tools
12.05: The Benefits and Costs of U.S. Environmental Laws
12.06: International Environmental Issues
12.07: The Tradeoff between Economic Output and Environmental Protection
12.E: Environmental Protection and Negative Externalities
13: Positive Externalities and Public Goods
13.01: Prelude to to Positive Externalities and Public Goods
13.02: Why the Private Sector Under Invests in Innovation
13.03: How Governments Can Encourage Innovation
13.04: Public Goods
13.E: Positive Externalities and Public Goods (Key Concepts and Exercises)
14: Labor Markets and Income
14.01: Prelude to Labor Markets and Income
14.02: Theory of Labor Markets
14.03: Wages and Employment in an Imperfectly Competitive Labor Market
14.04: Market Power on the Supply Side of Labor Markets- Unions
14.05: Bilateral Monopoly
14.06: Employment Discrimination
14.07: Immigration
14.E: Issues in Labor Markets- Unions Discrimination Immigration (Exercises)
15: Poverty and Economic Inequality
15.01: Prelude to Poverty and Economic Inequality
15.02: Drawing the Poverty Line
15.03: The Poverty Trap
15.04: The Safety Net
15.05: Income Inequality- Measurement and Causes
15.06: Government Policies to Reduce Income Inequality
15.E: Poverty and Economic Inequality (Exercises)
16: Information Risk and Insurance
16.01: Prelude to Information Risk and Insurance
16.02: The Problem of Imperfect Information and Asymmetric Information
16.03: Insurance and Imperfect Information
16.E: Information Risk and Insurance (Exercises)
17: Financial Markets
17.01: Prelude to to Financial Markets
17.02: How Businesses Raise Financial Capital
17.03: How Households Supply Financial Capital
17.04: How to Accumulate Personal Wealth
17.E: Financial Markets (Exercises)
18: Public Economy
18.01: Prelude to Public Economy
18.02: Voter Participation and Costs of Elections
18.03: Special Interest Politics
18.04: Flaws in the Democratic System of Government
18.E: Public Economy (Exercises)
19: International Trade
19.01: Prelude to International Trade
19.02: The Benefits of Reducing Barriers to International Trade
19.03: Absolute and Comparative Advantage
19.04: What Happens When a Country Has an Absolute Advantage in All Goods
19.05: Intra-industry Trade between Similar Economies
19.E: International Trade (Exercises)
20: Globalization and Protectionism
20.01: Prelude to to Globalization and Protectionism
20.02: Protectionism- An Indirect Subsidy from Consumers to Producers
20.03: International Trade and Its Effects on Jobs Wages and Working Conditions
20.04: Arguments in Support of Restricting Imports
20.05: How Trade Policy Is Enacted- Globally Regionally and Nationally
20.06: The Tradeoffs of Trade Policy
20.07: New Page
20.E: Globalization and Protectionism (Exercises)
21: Appendix
21.01: The Use of Mathematics in Principles of Economics
21.02: Indifference Curves
21.03: Present Discounted Value