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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 16 - Oligopoly I

We have already learned about the operation of two very different types of markets: perfectly competitive markets and monopolists. However, most markets don’t fall into either category. For example, think of the market for soda - both Pepsi and Coke are major producers, and they dominate the market. This type of market structure is known as an oligopoly, and it is the subject of this lecture.


References
Oligopoly I
Session Activities: Readings; Lecture Videos. Check Yourself: Concept Quiz. Further Study: Textbook Study Materials; Other OCW and OER Content.

Go to the Course Home or watch other lectures:

Unit 1: Supply and Demand
Lecture 01 - Introduction to Microeconomics
Lecture 02 - Applying Supply and Demand
Lecture 03 - Elasticity
Unit 2: Consumer Theory
Lecture 04 - Preferences and Utility
Lecture 05 - Budget Constraints
Lecture 06 - Deriving Demand Curves
Lecture 07 - Applying Consumer Theory: Labor Supply
Unit 3: Producer Theory
Lecture 08 - Introduction to Producer Theory
Lecture 09 - Productivity and Costs
Lecture 10 - Competition I
Lecture 11 - Competition II
Unit 4: Welfare Economics
Lecture 12 - Competition III
Lecture 13 - Principles of Welfare Economics
Unit 5: Monopoly and Oligopoly
Lecture 14 - Monopoly I
Lecture 15 - Monopoly II
Lecture 16 - Oligopoly I
Lecture 17 - Oligopoly II
Unit 6: Topics in Intermediate Microeconomics
Lecture 18 - Factor Markets
Lecture 19 - International Trade
Lecture 20 - Uncertainty
Lecture 21 - Capital Supply and Markets I
Lecture 22 - Capital Supply and Markets II
Unit 7: Equity and Efficiency
Lecture 23 - Equity and Efficiency
Lecture 24 - Government Redistribution Policy
Lecture 25 - U.S. Social Insurance Programs
Lecture 26 - Healthcare Economics