Allocative Efficiency

Consumer and Producer Surplus

Marginal Cost and Marginal Benefit. Why we never seem to run out of oil.

Shifting of Demand and Supply Curves (Part II)

Shifting of Demand and Supply Curves (Part I)

Market Equilibrium

Market Supply: What does horizontal summation mean?

Change in Quantity Supplied vs Change in Supply

Supply Curve. Why is there a direct relationship between price and quantity supplied?

Factors Affecting Supply

Market Demand Curve. How do we sum individual demand curves?

Change in Quantity Demanded vs Change in Demand

The Demand Curve

Factors Affecting Demand.

The Market. How producers and consumers react to price incentives.

Measuring GDP: Output and Value-added Approach

Circular Flow of Income. How the different components of an economy interact.

How price mechanism helps us make decisions. Producers and consumers react to incentives.

Price is a useful lie detector

(Production Possibility Frontier/Curve, PPF, PPC) Why can't things be free?

Graphs Tell Meaningful Stories too

Factors of Production (Resources)

Positive vs Normative analysis

Microeconomics vs Macroeconomics

Scarcity, Choice, Opportunity Cost. Why successful women tend to postpone marriage plans.