Lesson Topics

Unit 1: Markets are Efficient, Except . . . Intro to Microeconomics

1a - The Class and the Math 1b - The 5Es of Economics 1c - Making Choices: Scarcity and Budget Lines 1d - Making Choices: Production Possibilities and Benefit-Cost Analysis 2a - Market Economies and Trade 3a - Demand 3b - Supply 3c - Market Equilibrium and Efficiency 5a - Gov't Interference in Markets and Market Failure (Negative Externalities) 5b - Market Failure Con't: Positive Externalities and Public Goods UNIT 2: Elasticity, Consumer Choice, and Costs 4a - Price Elasticity of Demand and Tax Incidence 4b - Other Types of Elasticity 6a - Consumer Decisions: Utility Maximization 7a - Econ. Profit and the Production Function 7b - Production Costs in the Short Run 7c - Production Costs in the Long Run

Unit 3: Are Businesses Efficient? Product Markets and Efficiency

8/9a - Pure Competition: Characteristics and Short Run Equilibrium 8/9b - Pure Competition: Long Run Equilibrium and Efficiency 10a - Monopoly: Characteristics and Short Run Equilibrium 10b - Monopoly: Long run Equilibrium, Price Discrimination, and Regulation 11a - Monopolistic Competition: Are Businesses Efficient? 11b - Oligopoly: Are Businesses Efficient? Unit 4: Labor and Efficiency: Resource Markets, Inequality, and Immigration 12a - Demand For Resources 13a - Wage Determination: Labor Markets 20a - Income Inequality and Discrimination 22a - Immigration

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