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 04 - Preferences and Utility |
Behind every supply and demand curve is an army of producers and consumers making their own decisions. For consumers, their decisions are driven, quite simply, by what they want! All consumers make decisions to maximize their utility. In this lecture, we will learn about utility, how to define it and how we represent it mathematically.
| References |
| Preferences and Utility Session Activities: Readings; Lecture Videos. Check Yourself: Concept Quiz. Further Study: Textbook Study Materials; Other OCW and OER Content. |
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