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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 05 - Production Theory

In this lecture, Prof. Gruber talks about the production function, short-run production, long-run production, returns to scale, and productivity.

Go to the Course Home or watch other lectures:

Lecture 01 - Introduction and Supply and Demand

Lecture 02 - Preferences and Utility Function

Lecture 03 - Budget Constraints and Constrained Choice

Lecture 04 - Demand Curves and Income/Substitution Effects

Lecture 05 - Production Theory

Lecture 06 - Costs

Lecture 07 - Competition I

Lecture 08 - Competition II

Lecture 09 - Supply and Demand, Consumer/Producer Surplus

Lecture 10 - Welfare Economics

Lecture 11 - Monopoly I

Lecture 12 - Monopoly II

Lecture 13 - Oligopoly I

Lecture 14 - Oligopoly II

Lecture 15 - Input Markets I - Labor Market

Lecture 16 - Input Markets II - Labor and Capital

Lecture 17 - Making Choices over Time

Lecture 18 - Introduction to Trade

Lecture 19 - International Trade: Welfare and Policy

Lecture 20 - Uncertainty

Lecture 21 - Social Insurance

Lecture 22 - Efficiency and Equity

Lecture 23 - Government Redistribution and Taxation

Lecture 24 - Externalities

Lecture 25 - Behavioral Economics

Lecture 26 - Health Care Economics