Microeconomics

Why Study Microeconomics? · Three Key Analytical Tools · Positive and Normative Analysis

Demand, Supply, and Market Equilibrium · Price Elasticity of Demand · Other Elasticities · Elasticity in the Long Run Versus the Short Run

Representations of Preferences · Utility Functions · Special Preferences · Behavioral Aspects of Choice

The Budget Constraint · Optimal Choice · Consumer Choice with Composite Goods · Revealed Preference

Optimal Choice and Demand · Change in the Price of a Good: Substitution Effect and Income Effect · Change in the Price of a Good: The Concept of Consumer Surplus · Market Demand

Introduction to Inputs and Production Functions · Production Functions with a Single Input · Production Functions with More Than One Input · Substitutability Among Inputs

Cost Concepts for Decision Making · The Cost-Minimization Problem · Comparative Statics Analysis of the Cost-Minimization Problem · Short-Run Cost Minimization

Long-Run Cost Curves · Short-Run Cost Curves · Special Topics in Cost · Estimating Cost Functions

What is Perfect Competition? · Profit Maximization by a Price-Taking Firm · How the Market Price Is Determined: Short-Run Equilibrium · How the Market Price is Determined: Long-Run Equilibrium

The Invisible Hand, Excise Taxes, and Subsidies · Price Ceilings and Floors · Production Quotas · Price Supports in the Agricultural Sector

Profit Maximization by a Monopolist · The Importance of Price Elasticity of Demand · Comparative Statics for Monopolists · Monopoly with Multiple Plants and Markets

Capturing Surplus · First-Degree Price Discrimination: Making the Most from Each Consumer · Second-Degree Price Discrimination: Quantity Discounts · Third-Degree Price Discrimination: Different Prices for Different Market Segments

Describing and Measuring Market Structure · Oligopoly with Homogeneous Products · Dominant Firm Markets · Oligopoly with Horizontally Differentiated Products

The Concept of Nash Equilibrium · The Repeated Prisoners' Dilemma · Sequential-Move Games and Strategic Moves

Describing Risky Outcomes · Evaluating Risky Outcomes · Bearing and Eliminating Risk · Analyzing Risky Decisions

General Equilibrium Analysis: Two Markets · General Equilibrium Analysis: Many Markets · General Equilibrium Analysis: Comparative Statics · The Efficiency of Competitive Markets

Introduction · Externalities · Public Goods