14.01 Principles of Microeconomics
14.01 Principles of Microeconomics (Fall 2023, 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 01 - Introduction and Supply and Demand |
In this lecture, Prof. Gruber introduces the class by explaining microeconomics as the study of individuals and firms who make themselves as well off as possible in a world full of scarcity. He then explains the core concepts of supply and demand.
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