Unit 2 - Micro

(Supply and Demand)


Markets and Market Based Economies

An Introduction to Markets

This video take a big picture view of why economist spend so much time studying markets. In other words, why does it seem as though supply and demand is the centerpiece of economics (or at least microeconomics). They're not...but they are very important.

Demand (2.1)

Demand vs. Quantity Demanded
Demand and Its 3 Manifestations
What Shifts the Demand Curve?
The Demand Curve is the Marginal Benefit Curve

Supply (2.2)

Supply vs. Quantity Supplied
What Shifts the Supply Curve
The Supply Curve is the MC Curve
Why does Supply Shift Left and Right

Price Elasticity of Demand (2.3)

The Price Elasticity of Demand
Perfectly Elastic & Perfectly Inelastic
Determinants of PED
How Price Changes Impact Total Revenue
Elasticity is Not Slope
PED and A Linear Demand Curve
PED: The Simple Formula and the Midpoint Formula

Price Elasticity of Supply (2.4)

Price Elasticity of Supply

Other Elasticities (2.5)

Cross-Price Elasticity of Demand (XED)
Income Elasticity of Demand (YED)

Market Equilibrium (2.6.1)

Market Equilibrium: An Introduction
Market Equilibrium: Curves Shifting
Demand Driven Events and Supply Driven Events

Market Disequilibrium and Changes in Equilibrium (2.7)

Market Equilibrium: Market Changes (Part 1)
Market Equilibrium: Two Curves Shifting
Market Equilibrium: Market Changes (Part 2)
Market Equilibrium: Related Markets

Consumer and Producer Surplus (2.6.2)

Welfare Analysis: Consumer Surplus
Welfare Analysis: Producer Surplus
Welfare Analysis: Market Surplus

Infographic (Slot Notes)

Infographic - Qd vs Demand Slot Notes.pdf
Demand vs. Quantity Demanded - Slot Note
Infographic - S&D the Basics - Slot Notes.pdf
Determinants of Supply & Demand - Slot Note
Infographic - Changes in Mkt Equil - Slot Notes.pdf
Changes in Equilibrium - Slot Notes
Infographic - Elasticity - PED - Slot Note.pdf
Price Elasticity of Demand - Slot Notes
Infographic - Elasticity (YED-XPED-PES) - slot notes.pdf
Other Elasticities - Slot Notes
Infographic - Welfare Analysis Basics - Slot Notes.pdf
Intro to Welfare Economics - Slot Notes

Infographic (Answered) + Additional INfographics