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Before we move on to investment, it's important to understand the difference between shifts in consumption and movement along the consum...
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Not every case where the government intervenes in the economy is optimal. There are many cases where intervention is probably not the best i... -
Indifference curves are graphs which incorporate the idea of tastes or preferences. We assume that consumers are rational thinkers, and that...
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We know that there are 4 different market structures in economics. Now we're going to explore the idea of efficiency PRODUCTIVE EFFICIEN...
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Today, we're looking at two different applications of supply and demand: Currency Exchange, and Excise Taxes! CURRENCY EXCHANGE: The exc...
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HEY, Before anything else happens, we should all ask our TAs why indifference curves are convex to the origin (I think it has something to d...
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UNEMPLOYMENT (U): -News publications will often toss around unemployment rates, but very few people actually know what the unemployment rate...
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Today, we begin game theory, which is interesting and exciting- probably one of the neatest things you will learn in Microeconomics. Oligopo...
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INFLATIONARY DEMAND SHOCKS AND INFLATION -An increase in consumption, investment, government expenditures, and net exports causes an increas...
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So, we have the aggregate supply curve and we have the aggregate demand curve. AD measures levels of production which won't change over ...
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