Microeconomics - Full Course in under 4 hours | AP Microeconomics скачать в хорошем качестве

Microeconomics - Full Course in under 4 hours | AP Microeconomics

Part 1: Understanding Economic Foundations "This session introduces fundamental microeconomic principles, focusing on how individuals and businesses make decisions under scarcity. We explore the economic mindset, including opportunity costs, trade-offs, and incentives, alongside tips for effective learning. Key concepts like positive versus normative economics, the production possibilities frontier (PPF), comparative advantage, and cost-benefit and marginal analyses are explained to build a solid foundation for understanding economic choices and resource allocation." Part 2: Market Dynamics - Demand & Supply "This session explores the core dynamics of markets, focusing on demand and supply. We'll examine factors influencing consumer and producer behavior, determine market equilibrium, and differentiate between movements along and shifts of demand and supply curves. Finally, we'll use consumer and producer surplus to analyze market outcomes and their impact on buyers and sellers." Part 3: Elasticity & Market Policies "Ever wonder how much prices REALLY affect what people buy? Or how taxes impact businesses and consumers? This session unlocks the power of "elasticity" – a key concept in economics. We'll explore how sensitive buyers and sellers are to price changes, and then analyze how government policies like taxes, subsidies, and price controls can shake up the market." Part 4: The Firm & Production Costs "Ever wondered how businesses decide how much to produce and what prices to charge? This session dives into the world of firms and production costs! We'll explore key concepts like fixed costs, variable costs, marginal cost, and average cost, and see how they influence a firm's production decisions in both the short run and the long run." Part 5: Exploring Market Structures "Ever wondered how businesses operate in different markets? This session dives deep into the fascinating world of market structures, exploring the key characteristics, behaviors, and outcomes of each type. We'll start with perfect competition, the idealized scenario with countless small firms and identical products. Then, we'll explore the opposite extreme: monopoly, where a single powerful firm dominates the market. But that's not all! We'll also delve into monopolistic competition, where many firms compete with differentiated products, and oligopolies, where a few large firms control the market. Along the way, we'll uncover important concepts like barriers to entry, price elasticity of demand, market power, and game theory. We'll analyze how these factors shape the strategic interactions between firms and ultimately affect prices, output, and consumer welfare." Part 6: Factor Markets & Employment "This session explores factor markets, focusing on how businesses acquire resources like labor, capital, and land. We'll examine concepts such as Marginal Revenue Product (MRP) and Marginal Factor Cost (MFC) and how they influence hiring decisions. We'll also discuss factors that shift labor demand, the least-cost hiring rule, minimum wage effects, and market structures like monopsony and how it compares to monopoly." Part 7: Government Intervention & Market Outcomes "In this concluding session, we delve into the complexities of government intervention within market systems. We analyze the distinctions between public and private goods, and thoroughly examine the effects of externalities, both positive and negative, on societal welfare. Furthermore, we address the critical issue of income inequality. This session provides a breakdown of the tools governments use, such as subsidies and taxes, and the metrics employed to measure inequality, like the Lorenz curve and the Gini coefficient." 00:00 Understanding Economic Foundations 30:50 Market Dynamics - Demand & Supply 49:48 Elasticity & Market Policies 1:31:42 The Firm & Production Costs 2:00:28 Exploring Market Structures 2:57:41 Factor Markets & Employment 3:26:20 Government Intervention & Market Outcomes