14.01 Principles of Microeconomics, Fall 2007

This introductory course teaches the fundamentals of microeconomics. Topics include consumer theory, producer theory, the behavior of firms, market equilibrium, monopoly, and the role of the government in the economy. 14.01 is a Humanities, Arts, and Social Sciences (HASS) elective and is offered bo...

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Bibliographic Details
Main Authors:	Chen, Chia-Hui, Zhang, Hongliang, Migueis, Marco, Martinez-Bravo, Monica, Schnabl, Peter, Ke, Rongzhu, Wheaton, William
Language:	en-US
Published:	2020
Subjects:	market optimization allocation economic measurement analysis microeconomics demand supply equilibrium general equilibrium government interventions price elasticity of demand income elasticity of demand cross price elasticity of demand price elasticity of supply consumer behavior consumer preference utility functions marginal rate of substitution budget constraints interior solutions corner solutions Engle curves individual demand market demand revealed preferences substitution effect income effect Giffen goods consumer surplus Irish potato famine network externalities uncertainty preference toward risk risk premium indifference curves diversification insurance producer theory production functions short run long run returns to scale cost functions economies of scale economies of scope learning profit maximization producer surplus agricultural price support tax subsidy exchange economy contract curves utility possibilities frontier Edgeworth Box production possibilities frontier efficiency monopoly multiplant firm social cost price regulation monopsony price discrimination peak-load pricing two-part tariffs bundling monopolistic competition game theory oligopoly Cournot Stackelberg Bertrand Prisoner's Dilemma 521401 Marketing/Marketing Management, General 450601 Economics, General
Online Access:	https://hdl.handle.net/1721.1/126287

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Summary:	This introductory course teaches the fundamentals of microeconomics. Topics include consumer theory, producer theory, the behavior of firms, market equilibrium, monopoly, and the role of the government in the economy. 14.01 is a Humanities, Arts, and Social Sciences (HASS) elective and is offered both terms. This course is a core subject in MIT's undergraduate Energy Studies Minor. This Institute-wide program complements the deep expertise obtained in any major with a broad understanding of the interlinked realms of science, technology, and social sciences as they relate to energy and associated environmental challenges.

14.01 Principles of Microeconomics, Fall 2007

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