Professors’ needs and feedback shaped the design of MRU’s Principles of Microeconomics syllabus. All lessons feature an MRU video that introduces the day’s topic in an entertaining and thought-provoking way. If you implement aspects of this syllabus, we’d love to know what you think!
The syllabus follows a M-W-F schedule but can be adapted to the needs of your class.
Want more supplementary videos? Take a look at our entire Principles of Microeconomics video course.
Textbook: This syllabus follows the structure of the 3rd edition Modern Principles of Economics by Tyler Cowen and Alex Tabarrok.
Concept: Intro to Microeconomics
Textbook section: Intro to Microeconomics
Concept: Intro to Microeconomics, Intro to Flipped Classroom
Videos: Introduction to Microeconomics
Textbook section: Intro to Microeconomics
Concept: Comparative Advantage
Videos: The Big Ideas of Trade, Comparative Advantage
Textbook section: Comparative Advantage
Concept: Intro to Supply and Demand
Videos: The Demand Curve, The Supply Curve, The Equilibrium Price
Textbook section: Supply and Demand
Concept: Shifts to Supply and Demand
Videos: A Deeper Look at the Demand Curve, The Demand Curve Shifts, A Deeper Look at the Supply Curve, The Supply Curve Shifts
Textbook section: Supply and Demand
Concept: Equilibrium
Videos: Exploring Equilibrium, Does the Equilibrium Model Work?, Supply and Demand Terminology
Textbook section: Equilibrium
Videos: Elasticity of Demand, Calculating the Elasticity of Demand, Elasticity of Supply
Textbook section: Elasticity
Concept: Elasticity Applied
Videos: Elasticity and Slave Redemption, Applications Using Elasticity
Textbook section: Elasticity
Concept: Review one difficult concept from an earlier lecture (or catch up)
Videos: TBD
Chapter: TBD
Concept: Taxes and Elasticity
Videos: Commodity Taxes, Who Pays the Tax?
Textbook section: Taxes and Subsidies
Concept: Deadweight Loss
Videos: Tax Revenue and Deadweight Loss
Textbook section: Taxes and Subsidies
Concept: Subsidies
Videos: Subsidies, Wage Subsidies
Textbook section: Taxes and Subsidies
Videos: I, Rose, A Price Is a Signal Wrapped up in an Incentive, Markets Link the World, The Great Economic Problem, Information and Incentives, Speculation (optional), Prediction Markets (optional)
Textbook section: Prices
Concept: Price Ceilings
Videos: Price Ceilings, Price Ceilings: Shortages and Quality Reduction, Price Ceilings: Lines and Search Costs, Price Ceilings: Deadweight Loss, Price Ceilings: Misallocation of Resources, Price Ceilings: Rent Controls
Textbook section: Price Ceilings
Concept: Price Floors
Videos: Price Floors: The Minimum Wage, Price Floors: Airline Fares, Why Do Governments Enact Price Controls?, Price Controls and Communism
Textbook section: Price Floors
Videos: An Introduction to Externalities, External Benefits, Command and Control Solutions
Textbook section: Externalities
Concept: Coase and Coase Applied
Videos: The Coase Theorem, Trading Pollution, A Deeper Look at Tradeable Allowances
Textbook section: Externalities
Concept: Review one difficult concept from an earlier lecture (or catch up)
Videos: TBD
Chapter: TBD
Concept: Intro to Firm’s Profit Maximization
Videos: Introduction to the Competitive Firm, Maximizing Profit under Competition, Maximizing Profit and the Average Cost Curve
Textbook section: Costs and Profit Maximization Under Competition
Concept: Market Entry and Exit Decisions
Videos: Entry, Exit, and Supply Curves: Increasing Costs, Entry, Exit, and Supply Curves: Constant Costs, Entry, Exit, and Supply Curves: Decreasing Costs
Textbook section: Costs and Profit Maximization Under Competition
Concept: Invisible Hand in Competition
Videos: Minimization of Total Industry Costs of Production, The Balance of Industries and Creative Destruction
Textbook section: Competition
Videos: Maximizing Profit under Monopoly, The Monopoly Markup
Textbook section: Monopoly
Concept: Costs and Benefits of Monopolies
Video: The Costs and Benefits of Monopoly
Textbook section: Monopoly
Concept: Monopolistic Competition and Advertising
Video: N/A
Textbook section: Monopolistic Competition and Advertising
Videos: Introduction to Price Discrimination
Textbook section: Price Discrimination
Concept: Costs and Benefits of Price Discrimination
Videos: The Social Welfare of Price Discrimination
Textbook section: Price Discrimination
Concept: Price Discrimination Techniques: Tying and Bundling
Textbook section: Price Discrimination
Textbook section: Oligopoly and Game Theory
Concept: Prisoner’s Dilemma Experiment
Textbook section: Oligopoly and Game Theory
Concept: Oligopoly and Game Theory
Videos: N/A
Textbook section: Oligopoly and Game Theory
Concept: Intro to Supply and Demand of Labor
Videos: The Marginal Product of Labor, Human Capital and Signaling
Textbook section: Labor Markets
Concept: Compensating Wage Differentials
Videos: The Tradeoff Between Fun and Wages, Compensating Differentials
Textbook section: Labor Markets
Concept: Labor Issues and Policy
Videos: Do Unions Raise Wages?
Textbook section: Labor Markets
Videos: Public Goods and Asteroid Defense, A Deeper Look at Public Goods, Club Goods
Textbook section: Public Goods and the Tragedy of the Commons
Concept: Tragedy of the Commons
Videos: The Tragedy of the Commons
Textbook section: Public Goods and Tragedy of the Commons
Concept: Review Government Solutions to Externalities
Videos: (Review) An Introduction to Externalities, External Benefits, Command and Control Solutions,
Textbook section: Externalities
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