14.01SC Principles of Microeconomics
14.01SC Principles of Microeconomics (Fall 2011, MIT OCW). Instructor: Professor Jonathan Gruber. 14.01 Principles of Microeconomics is an introductory undergraduate course that teaches the fundamentals of microeconomics. This course introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Students will also be introduced to the use of microeconomic applications to address problems in current economic policy throughout the semester. (from ocw.mit.edu)
| Lecture 03 - Elasticity |
Everyone knows the unpleasant feeling that results from the price of something you've been longing to buy increasing - or the excitement of seeing your favorite snack go on sale! When the price of a good changes, consumers' demand for that good changes. We can understand these changes by graphing supply and demand curves and analyzing their properties.
| References |
| Elasticity Session Activities: Readings; Lecture Videos. Check Yourself: Concept Quiz. Further Study: Textbook Study Materials; Other OCW and OER Content. |
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