Economics And Finance
ECN8968
Microeconomics

This is a course on Microeconomics organized by Lumen Learning - Achieving the Dream. It contains resources and readings from a variety of sources.

Module: Economic Thinking

This unit provides information on Economic Thinking, from Achieving the Dream - Microeconomics.

items (21)
Password:
DOCUMENT

Why It Matters: Economic Thinking

DOCUMENT

Outcome: What Is Economics?

VIDEO

Episode 2: Scarcity and Choice

DOCUMENT

Reading: Understanding Economics and Scarcity

VIDEO

Episode 3: Resources

WEB RESOURCE

Reading: The Concept of Opportunity Cost

VIDEO

Episode 8: Opportunity Cost

DOCUMENT

Reading: Labor, Markets, and Trade

WEB RESOURCE

Reading: Microeconomics and Macroeconomics

VIDEO

Episode 4: Micro vs Macro

WEB RESOURCE

Reading: Using Economic Models

VIDEO

Episode 5A: Models & Theories

WEB RESOURCE

Reading: Purpose of Functions

WEB RESOURCE

Reading: Solving Simple Equations

DOCUMENT

Outcome: Graphs in Economics

VIDEO

Episode 6: Graph Review

WEB RESOURCE

Reading: Creating and Interpreting Graphs

WEB RESOURCE

Reading: Interpreting Slope

WEB RESOURCE

Reading: Types of Graphs

WEB RESOURCE

Putting It Together: Economic Thinking

DOCUMENT

Glossary: Economic Thinking

Module: Choice in a World...

This unit provides information on Choice in a World of Scarcity, from Achieving the Dream - Microeconomics.

items (14)
Password:
DOCUMENT

Why It Matters: Choice in a World of Scarcity

DOCUMENT

Reading: Budget Constraints and Choices

WEB RESOURCE

Reading: Calculating Opportunity Cost

DOCUMENT

Outcome: The Production Possibilities Frontier

VIDEO

Video: Society’s Production Possibilities Curve

WEB RESOURCE

Reading: The Production Possibilities Frontier

WEB RESOURCE

Reading: Productive Efficiency and Allocative Effi...

DOCUMENT

Reading: Rationality and Self-Interest

WEB RESOURCE

Reading: Rationality in Action

WEB RESOURCE

Reading: Marginal Analysis

VIDEO

Episode 5: Positive vs Normative

WEB RESOURCE

Reading: Positive and Normative Statements

WEB RESOURCE

Putting It Together: Choice in a World of Scarcity

DOCUMENT

Glossary: Choice in a World of Scarcity

Module: Supply and Demand

This unit provides information on supply and demand from Achieving the Dream - Microeconomics.

items (28)
Password:
DOCUMENT

Why It Matters: Supply and Demand

DOCUMENT

Outcome: Economic Systems

WEB RESOURCE

Reading: Economic Systems

DOCUMENT

Reading: What Is Demand?

VIDEO

Episode 11 - Demand

VIDEO

Episode 12: Change in Demand vs Change in Quantity...

WEB RESOURCE

Reading: Factors Affecting Demand

DOCUMENT

Worked Example: Shift in Demand

WEB RESOURCE

Reading: Summary of Factors That Change Demand

WEB RESOURCE

Simulation: Demand for Food Trucks

WEB RESOURCE

Self Check: Demand

DOCUMENT

Outcome: Supply

WEB RESOURCE

Reading: What Is Supply?

DOCUMENT

Reading: Factors Affecting Supply

DOCUMENT

Worked Example: Shift in Supply

WEB RESOURCE

Reading: Summary of Factors That Change Supply

WEB RESOURCE

Simulation: Supply of Food Trucks

WEB RESOURCE

Self Check: Supply

DOCUMENT

Outcome: Equilibrium

WEB RESOURCE

Reading: Equilibrium, Surplus, and Shortage

VIDEO

Episode 14: Market Equilibrium

DOCUMENT

Reading: Changes in Equilibrium

WEB RESOURCE

Worked Example: Supply and Demand

WEB RESOURCE

Simulation: Food Trucks and Changes in Equilibrium

WEB RESOURCE

Self Check: Equilibrium

WEB RESOURCE

Putting It Together: Supply and Demand

VIDEO

Supply and Demand in the Beef Industry

DOCUMENT

Glossary: Supply and Demand

Module: Elasticity

This unit provides information on elasticity from Achieving the Dream - Microeconomics.

items (19)
Password:
DOCUMENT

Why It Matters: Elasticity

DOCUMENT

Outcome: Explaining Elasticity

DOCUMENT

Reading: Introduction to Elasticity

VIDEO

Episode 16: Elasticity of Demand

WEB RESOURCE

Reading: Examples of Elastic and Inelastic Demand

DOCUMENT

Outcome: Calculating Price Elasticity

WEB RESOURCE

Reading: Calculating Percentage Changes and Growth...

WEB RESOURCE

Reading: Calculating Price Elasticities

DOCUMENT

Reading: Three Categories of Elasticity

WEB RESOURCE

Reading: Polar Cases of Elasticity

DOCUMENT

Outcome: Other Elasticities

WEB RESOURCE

Reading: Other Types of Elasticity

WEB RESOURCE

Worked Example: Cross-Price Elasticity of Demand

WEB RESOURCE

Self Check: Other Elasticities

DOCUMENT

Outcome: Price Elasticity and Total Revenue

WEB RESOURCE

Reading: Elasticity and Total Revenue

WEB RESOURCE

Reading: Elasticity, Costs, and Customers

WEB RESOURCE

Putting It Together: Elasticity

DOCUMENT

Glossary: Elasticity

Module: Government Action

This unit provides information on government action from Achieving the Dream - Microeconomics.

items (15)
Password:
DOCUMENT

Why It Matters: Government Action

VIDEO

Raising Minimum Wage

DOCUMENT

Outcome: Price Ceilings

WEB RESOURCE

Reading: Price Ceilings

VIDEO

Edgar the Exploiter

WEB RESOURCE

Reading: Price Floors

DOCUMENT

Case in Point: Organic Foods

WEB RESOURCE

Self Check: Impact of Binding Price Ceilings or Pr...

DOCUMENT

Outcome: Tax Incidence

WEB RESOURCE

Reading: Tax Incidence

DOCUMENT

Reading: Financing Government

WEB RESOURCE

Reading: Types of Taxes

WEB RESOURCE

Reading: Taxation

DOCUMENT

Worked Example: Price Controls

DOCUMENT

Putting It Together: Government Action

Module: Surplus

This unit provides information on surplus from Achieving the Dream - Microeconomics.

items (7)
Password:
DOCUMENT

Why It Matters: Surplus

VIDEO

Cyber Monday

DOCUMENT

Outcome: Consumer, Producer, and Total Surplus

WEB RESOURCE

Reading: Surplus

WEB RESOURCE

Reading: Inefficiency of Price Floors and Price Ce...

DOCUMENT

Putting It Together: Surplus

DOCUMENT

Glossary: Surplus

Module: Utility

This unit provides information on utility from Achieving the Dream - Microeconomics.

items (20)
Password:
DOCUMENT

Why It Matters: Utility

WEB RESOURCE

Reading: Consumer Choices

WEB RESOURCE

Reading: Consumption Choices

WEB RESOURCE

Reading: Choosing with Marginal Utility

VIDEO

What is Marginal Utility?

DOCUMENT

Outcome: Marginal Utility

WEB RESOURCE

Reading: Marginal Utility

WEB RESOURCE

Reading: A Tool for Maximizing Utility

VIDEO

The Optimal Purchase Rule

WEB RESOURCE

Simulation: Maximizing Utility

WEB RESOURCE

Self Check: The Utility Maximizing Rule

DOCUMENT

Outcome: How Utility Changes

DOCUMENT

Reading: The Foundations of Demand Curve

WEB RESOURCE

Reading: Income Changes and Consumption Choices

WEB RESOURCE

Reading: Behavioral Economics: An Alternative View...

VIDEO

Behavioral Economics

VIDEO

Deriving Demand from Marginal Utility

DOCUMENT

Putting It Together: Utility

DOCUMENT

Glossary: Utility

DOCUMENT

Why It Matters: Production

Module: Production

This unit provides information on production from Achieving the Dream - Microeconomics.

items (16)
Password:
DOCUMENT

Why It Matters: Production

VIDEO

Making Cars Affordable

DOCUMENT

Reading: Cost and Industry Structure

WEB RESOURCE

Reading: Factors of Production

WEB RESOURCE

Reading: Production Choices and Costs

DOCUMENT

Outcome: Explicit and Implicit Costs

WEB RESOURCE

Reading: Explicit and Implicit Costs

DOCUMENT

Reading: Fixed and Variable Costs

WEB RESOURCE

Reading: The Structure of Costs in the Short Run

WEB RESOURCE

Reading: Sunk Costs and Alternative Measures of Co...

DOCUMENT

Reading: Short Run vs. Long Run Costs

WEB RESOURCE

Reading: Short Run and Long Run Average Total Cost...

DOCUMENT

Reading: Long Run Costs

WEB RESOURCE

Reading: Economies of Scale

DOCUMENT

Putting It Together: Production

DOCUMENT

Glossary: Production

Module: Perfect Competiti...

This unit provides information on perfect competition from Achieving the Dream - Microeconomics.

items (16)
Password:
DOCUMENT

Why It Matters: Perfect Competition

WEB RESOURCE

Reading: Perfect Competition

DOCUMENT

Reading: Perfect Competition: A Model

WEB RESOURCE

Reading: Price and Revenue in a Perfectly Competit...

WEB RESOURCE

Reading: How Perfectly Competitive Firms Make Outp...

VIDEO

Perfect competition: Point of profit maximization

VIDEO

Perfect competition: Economic profit

WEB RESOURCE

Simulation: Maximizing Profit

WEB RESOURCE

Reading: The Shutdown Point

VIDEO

Perfect competition: Normal profits

VIDEO

Perfect competition: A loss

WEB RESOURCE

Reading: Entry and Exit Decisions in the Long Run

WEB RESOURCE

Reading: Efficiency in Perfectly Competitive Marke...

DOCUMENT

Putting It Together: Perfect Competition

VIDEO

Perfect competition: A summary

DOCUMENT

Glossary: Perfect Competition

Module: Monopoly

This unit provides information on monopolies from Achieving the Dream - Microeconomics.

items (16)
Password:
DOCUMENT

Why It Matters: Monopoly

WEB RESOURCE

Reading: Introduction to Monopolies

WEB RESOURCE

Reading: How Monopolies Form: Barriers to Entry

WEB RESOURCE

Reading: Choosing Output and Price

WEB RESOURCE

Reading: Illustrating Monopoly Profits

VIDEO

Monopoly: How to Graph It

DOCUMENT

Reading: The Inefficiency of Monopoly

WEB RESOURCE

Reading: Monopolies and Deadweight Loss

WEB RESOURCE

Reading: Price Discrimination

DOCUMENT

Reading: Monopoly and Antitrust Policy

DOCUMENT

Reading: Corporate Mergers

DOCUMENT

Reading: Regulating Anticompetitive Behavior

DOCUMENT

Reading: Regulating Natural Monopolies

WEB RESOURCE

Reading: The Great Deregulation Experiment

DOCUMENT

Putting It Together: Monopoly

DOCUMENT

Glossary: Monopoly

Module: Monopolistically ...

This unit provides information on monopolistically competitive industries from Achieving the Dream - Microeconomics.

items (10)
Password:
DOCUMENT

Why It Matters: Monopolistically Competitive Indus...

DOCUMENT

Reading: Introducing Monopolistic Competition

WEB RESOURCE

Reading: Monopolistic Competition

WEB RESOURCE

Reading: Choosing Price and Quantity

WEB RESOURCE

Reading: Monopolistic Competitors and Entry

WEB RESOURCE

Reading: Advertising and Monopolistic Competition

VIDEO

Dollars and Scents

WEB RESOURCE

Reading: Monopolistic Competition and Efficiency

DOCUMENT

Putting It Together: Monopolistically Competitive ...

DOCUMENT

Glossary: Monopolistic Competition

Module: Oligopoly

This unit provides information on oligopolies from Achieving the Dream - Microeconomics.

items (13)
Password:
DOCUMENT

Why It Matters: Oligopoly

DOCUMENT

Reading: Introducing Oligopolies

DOCUMENT

Reading: Why do Oligopolies Exist?

WEB RESOURCE

Reading: Competition Among the Few

WEB RESOURCE

Reading: Oligopoly Models

DOCUMENT

Reading: Collusion or Competition?

WEB RESOURCE

Reading: The Collusion Model

WEB RESOURCE

Reading: Prisoner’s Dilemma

WEB RESOURCE

Reading: Game Theory

WEB RESOURCE

Reading: Tradeoffs of Imperfect Competition

DOCUMENT

Putting It Together: Oligopoly

VIDEO

Credit Card Competition

DOCUMENT

Glossary: Oligopolies

Module: Public Goods

This unit provides information on public goods from Achieving the Dream - Microeconomics.

items (17)
Password:
DOCUMENT

Why It Matters: Public Goods

VIDEO

Episode 31: Market Failures

DOCUMENT

Reading: Positive Externalities and Public Goods

WEB RESOURCE

Reading: Public Goods

WEB RESOURCE

Reading: Free Riders

WEB RESOURCE

Reading: Positive Externalities and Technology

WEB RESOURCE

Reading: Introduction to Externalities and Polluti...

VIDEO

Pollution in China

VIDEO

Episode 32: Externalities

WEB RESOURCE

Reading: Market Failure

DOCUMENT

Reading: Command-and-Control Regulation

DOCUMENT

Reading: The Benefits and Costs of U.S. Environmen...

WEB RESOURCE

Reading: How Governments Can Encourage Innovation

DOCUMENT

Reading: Market-Oriented Environmental Tools

WEB RESOURCE

Reading: Market-Oriented Environmental Tools: Effe...

DOCUMENT

Putting It Together: Public Goods

DOCUMENT

Glossary: Public Goods

Module: Globalization, Tr...

This unit provides information on Globalization, Trade and Finance from Achieving the Dream - Microeconomics.

items (30)
Password:
DOCUMENT

Why It Matters: Globalization, Trade and Finance

DOCUMENT

Reading: Introduction to International Trade

WEB RESOURCE

Reading: Absolute and Comparative Advantage

WEB RESOURCE

Reading: Absolute Advantage

WEB RESOURCE

Reading: Intra-Industry Trade

WEB RESOURCE

Reading: Reducing Barriers to Trade

WEB RESOURCE

Reading: Demand and Supply Analysis of Internation...

WEB RESOURCE

Reading: Restrictions on International Trade

VIDEO

Episode 36: Types of Trade Restrictions

VIDEO

Episode 35: Why do countries restrict trade?

DOCUMENT

Reading: Justifications for Trade Restriction

DOCUMENT

Case in Point: Outsourcing, Insourcing, and Employ...

WEB RESOURCE

Reading: The Tradeoffs of Trade Policy

DOCUMENT

Reading: How Trade Policy Is Enacted

VIDEO

Episode 37: GATT/WTO

VIDEO

Episode 38: Trade Blocs

VIDEO

South Korea FTA

WEB RESOURCE

Self Check: Trade Policy and Agreements

DOCUMENT

Reading: Exchange Rates and International Capital ...

DOCUMENT

Reading: The Foreign Exchange Market

DOCUMENT

Reading: Strengthening and Weakening Currency

WEB RESOURCE

Reading: Demand and Supply Shifts in Foreign Excha...

DOCUMENT

Reading: Macroeconomic Effects of Exchange Rates

WEB RESOURCE

Reading: Exchange-Rate Policies

DOCUMENT

Reading: Introduction to Globalization

WEB RESOURCE

Reading: Trade Winds

WEB RESOURCE

Simulation: International Trade

WEB RESOURCE

Self Check: Globalization

DOCUMENT

Putting It Together: Globalization, Trade and Fina...

DOCUMENT

Glossary: International Trade

Module: Income Distributi...

This unit provides information on income distribution from Achieving the Dream - Microeconomics.

items (26)
Password:
WEB RESOURCE

Why It Matters: Income Distribution

WEB RESOURCE

Reading: The Demand for Labor

WEB RESOURCE

Case in Point: Computer Technology Increases the D...

WEB RESOURCE

Reading: The Supply of Labor

DOCUMENT

Case in Point: An Airline Pilot’s Lament

WEB RESOURCE

Reading: Labor Markets at Work

DOCUMENT

Case in Point: Technology and the Wage Gap

WEB RESOURCE

Reading: Time and Interest Rates

WEB RESOURCE

Reading: Interest Rates and Capital

WEB RESOURCE

Reading: Loanable Funds

WEB RESOURCE

Reading: Natural Resources and Conservation

WEB RESOURCE

Reading: Monopsony

WEB RESOURCE

Reading: Monopoly and Monopsony: A Comparison

WEB RESOURCE

Reading: Monopsony and the Minimum Wage

WEB RESOURCE

Reading: Price Setters on the Supply Side

WEB RESOURCE

Simulation: Income Distribution

WEB RESOURCE

Self Check: Competition and Wages

DOCUMENT

Reading: Poverty and Economic Inequality

DOCUMENT

Reading: The Poverty Trap

WEB RESOURCE

Reading: The Safety Net

DOCUMENT

Reading: Explaining Inequality

WEB RESOURCE

Reading: Measuring Income Inequality

WEB RESOURCE

Reading: Government Policies to Reduce Income Ineq...

WEB RESOURCE

Putting It Together: Income Distribution

VIDEO

Income Inequality

DOCUMENT

Glossary: Income Distribution