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 20 - Uncertainty |
Up until now, our analysis of consumers and firms alike has assumed that both have perfect knowledge of the future. However, the world is filled with uncertainty. We don't know if it will rain tomorrow, if the stock market will go up next year, or if a new business will succeed or fail. This lecture analyzes the implications of uncertainty for consumer decisions.
| References |
| Uncertainty Session Activities: Readings; Lecture Videos. Check Yourself: Concept Quiz. Further Study: Textbook Study Materials. |
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