14.01 Principles of Microeconomics (Fall 2018, MIT OCW): Lecture 21

14.01 Principles of Microeconomics

14.01 Principles of Microeconomics (Fall 2018, MIT OCW). Instructor: Prof. Jonathan Gruber. This introductory undergraduate course covers the fundamentals of microeconomics. Topics include supply and demand, market equilibrium, consumer theory, production and the behavior of firms, monopoly, oligopoly, welfare economics, public goods, and externalities. (from ocw.mit.edu)

Lecture 21 - Efficiency and Equity

In this lecture, Prof. Gruber introduces the idea of equity and efficiency, including choosing the socially optimal allocation, inequality, and sources of leakage.

Go to the Course Home or watch other lectures:

Lecture 01 - Introduction and Supply and Demand

Lecture 02 - Preference and Utility Functions

Lecture 03 - Budget Constraints and Constrained Choice

Lecture 04 - Demand Curves and Income/Substitution Effects

Lecture 05 - Production Theory

Lecture 06 - Costs

Lecture 07 - Competition I

Lecture 08 - Competition II

Lecture 09 - Supply and Demand and Consumer/Producer Surplus

Lecture 10 - Welfare Economics

Lecture 11 - Monopoly I