# Microeconomics and Macroeconomics - Khan Academy

Topics covered in an traditional college level introductory microeconomics and macroeconomics course

## Lessons hide description |
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## 1) Production Possibilities Frontier## Tradeoffs for a hunter gatherer and the production possibilities frontier. Ceteris Paribus More free lessons at: http://www.khanacademy.org/video?v=_7VHf |

## 2) Opportunity Cost## Opportunity cost (and marginal cost) based on the PPF More free lessons at: http://www.khanacademy.org/video?v=pkEiH |

## 3) Increasing Opportunity Cost## Why the opportunity cost may increase as you pursue more rabbits More free lessons at: http://www.khanacademy.org/video?v=00fgA |

## 4) Allocative Efficiency and Marginal Benefit## Marginal Utility and maximization More free lessons at: http://www.khanacademy.org/video?v=MT4ak |

## 5) Economic Growth through Investment## How investing for capital formation can expand the production possibilities frontier (PPF) More free lessons at: http://www.khanacademy.org/video?v=a9aUM |

## 6) Comparative Advantage Specialization and Gains from Trade## How two parties can get better outcomes by specializing in their comparative advantage and trading More free lessons at: http://www.khanacademy.org/video?v=xx9xN |

## 7) Comparative Advantage and Absolute Advantage## Showing that a party benefits from trade as long as there is a comparative advantage (and not necessarily an absolute advantage) More free lessons at: http://www.khanacademy.org/video?v=xN3UV |

## 8) Law of Demand## Example of the law of demand More free lessons at: http://www.khanacademy.org/video?v=ShzPt |

## 9) Price of Related Products and Demand## How changes in the price of related goods can shift demand More free lessons at: http://www.khanacademy.org/video?v=-oClp |

## 10) Changes in Income, Population, or Preferences## How demand can be effected by changes in income, population or preferences More free lessons at: http://www.khanacademy.org/video?v=do1HD |

## 11) Normal and Inferior Goods## How the demand for some goods could actually go down if incomes go up More free lessons at: http://www.khanacademy.org/video?v=wYuAw |

## 12) Inferior Goods Clarification## More clarification on inferior and normal goods More free lessons at: http://www.khanacademy.org/video?v=TAhRo |

## 13) Law of Supply## Introduction to the Law of Supply More free lessons at: http://www.khanacademy.org/video?v=3xCzh |

## 14) Factors Affecting Supply## How the price of inputs, price of related goods, number of suppliers technology, and expected future prices affects the supply curve More free lessons at: http://www.khanacademy.org/video?v=0isM0 ... |

## 15) Market Equilibrium## Equilibrium price and quantity for supply and demand More free lessons at: http://www.khanacademy.org/video?v=PEMkf |

## 16) Changes in Market Equilibrium## How the equilibrium price or quantity might change due to changes in supply or demand More free lessons at: http://www.khanacademy.org/video?v=NgPqy |

## 17) Price Elasticity of Demand## Introduction to price elasticity of demand More free lessons at: http://www.khanacademy.org/video?v=slP8X |

## 18) More on Elasticity of Demand## Looking a bit deeper at why elasticity changes despite having a linear demand curve More free lessons at: http://www.khanacademy.org/video?v=YOT8r |

## 19) Perfect Inelasticity and Perfect Elasticity of Demand## Extreme examples of price elasticity of demand More free lessons at: http://www.khanacademy.org/video?v=6udRt |

## 20) Constant Unit Elasticity## What a demand curve with constant unit elasticity would look like More free lessons at: http://www.khanacademy.org/video?v=m7qXv |

## 21) Total Revenue and Elasticity## Thinking about how total revenue and elasticity are related More free lessons at: http://www.khanacademy.org/video?v=Udltk |

## 22) More on Total Revenue and Elasticity## Clarification on the relationship between total revenue and elasticity More free lessons at: http://www.khanacademy.org/video?v=KgrLU |

## 23) Cross Elasticity of Demand## Price of one good effecting quantity demanded of another More free lessons at: http://www.khanacademy.org/video?v=Ngv0B |

## 24) Elasticity of Supply## Thinking about elasticity of supply More free lessons at: http://www.khanacademy.org/video?v=AAWsu |

## 25) Elasticity and Strange Percent Changes## Why we calculate percent changes in a strange way when calculating elasticities More free lessons at: http://www.khanacademy.org/video?v=fUxSB |

## 26) Demand Curve as Marginal Benefit Curve## Thinking about a demand curve in terms of quantity driving price More free lessons at: http://www.khanacademy.org/video?v=Krkbb |

## 27) Consumer Surplus Introduction## Consumer surplus as difference between marginal benefit and price paid More free lessons at: http://www.khanacademy.org/video?v=_6kwh |

## 28) Total Consumer Surplus as Area## Looking at consumer surplus as area between the demand curve and the market price More free lessons at: http://www.khanacademy.org/video?v=RBUBI |

## 29) Producer Surplus## Looking at the supply curve as an opportunity cost curve. Understanding the producer surplus as the area between the supply curve and the market price More free lessons at: http://www.khanacademy.or ... |

## 30) Rent Control and Deadweight Loss## How instituting a price ceiling lower than the equilibrium price reduces the total surplus (dead weight loss) |

## 31) Minimum Wage and Price Floors## How a minimum wage might effect the labor market More free lessons at: http://www.khanacademy.org/video?v=j0c2v |

## 32) Taxation and Dead Weight Loss## The effect of taxation on the equilibrium price and quantity More free lessons at: http://www.khanacademy.org/video?v=NuLlN |

## 33) Percentage Tax on Hamburgers## What would happen if we have a percentage tax instead of a fixed dollar amount More free lessons at: http://www.khanacademy.org/video?v=xwOTl |

## 34) Taxes and Perfectly Inelastic Demand## Who bears the burden for the taxes when demand is inelastic More free lessons at: http://www.khanacademy.org/video?v=lsn16 |

## 35) Taxes and Perfectly Elastic Demand## Who bears the burden for a tax on a good with perfectly elastic demand More free lessons at: http://www.khanacademy.org/video?v=z1yJP |

## 36) Marginal Utility## Marginal utility and marginal benefit. How you would spend $5 on chocolate and fruit More free lessons at: http://www.khanacademy.org/video?v=Kf9Kh |

## 37) Equalizing Marginal Utility per Dollar Spent## Why the marginal utility for dollar spent should be theoritically equal for the last increment of either good purchased More free lessons at: http://www.khanacademy.org/video?v=KbW6O |

## 38) Deriving Demand Curve from Tweaking Marginal Utility per Dollar## Seeing what happens to quantity demanded when price changes More free lessons at: http://www.khanacademy.org/video?v=4-_-w |

## 39) Budget Line## What I can buy with my income More free lessons at: http://www.khanacademy.org/video?v=Uq5Wz |

## 40) Optimal Point on Budget Line## Using indifference curves to think about the point on the budget line that maximizes total utility More free lessons at: http://www.khanacademy.org/video?v=nhSSu |

## 41) Types of Indifference Curves## Indifference curves for normal goods, substitutes and perfect complements More free lessons at: http://www.khanacademy.org/video?v=kJ43G |

## 42) Economic Profit vs Accounting Profit## Difference between a firm's accounting and economic profit More free lessons at: http://www.khanacademy.org/video?v=06j_z |

## 43) Depreciation and Opportunity Cost of Capital## How to account for things when you own the building instead of renting it More free lessons at: http://www.khanacademy.org/video?v=ckBKD |

## 44) Fixed, Variable, and Marginal Cost.## Thinking about average fixed, variable and marginal cost More free lessons at: http://www.khanacademy.org/video?v=bBQVa |

## 45) Visualizing Average Costs and Marginal Costs as Slope## Graphing variable cost, fixed cost and total cost More free lessons at: http://www.khanacademy.org/video?v=k1iHD |

## 46) Marginal Cost and Average Total Cost## Looking at marginal and average total cost in the context of a juice business More free lessons at: http://www.khanacademy.org/video?v=7t8gd |

## 47) Marginal Revenue and Marginal Cost## Thinking about a rational quantity of juice to produce More free lessons at: http://www.khanacademy.org/video?v=xGkE0 |

## 48) Marginal Revenue Below Average Total Cost## Why it is rational to produce at a loss More free lessons at: http://www.khanacademy.org/video?v=ni0TL |

## 49) Long Term Supply Curve and Economic Profit## Understanding the long term supply curve in terms of economic profit More free lessons at: http://www.khanacademy.org/video?v=CWiHA |

## 50) Perfect Competition## Conditions for perfect competition. Looking at the airline industry More free lessons at: http://www.khanacademy.org/video?v=_NznT |

## 51) Monopoly Basics## Thinking about what would happen with one airline. The opposite of perfect competition More free lessons at: http://www.khanacademy.org/video?v=77CAp |

## 52) Monopolist Optimizing Price (part 1)- Total Revenue.## Starting to think about how a monopolist would rationally optimize profits More free lessons at: http://www.khanacademy.org/video?v=cczAB |

## 53) Monopolist Optimizing Price (part 2)- Marginal Revenue## Plotting the marginal revenue curve for a monopolist More free lessons at: http://www.khanacademy.org/video?v=s1UQQ |

## 54) Monopolist Optimizing Price (part 3)- Dead Weight Loss.avi## Showing that what is optimal for the monopolist is not optimal for society More free lessons at: http://www.khanacademy.org/video?v=daxL1 |

## 55) Optional Calculus Proof to Show that MR has Twice Slope of Demand## Using some basic calculus to show that marginal revenue has twice the slope of the demand curve for a monopolist More free lessons at: http://www.khanacademy.org/video?v=atI4Q |

## 56) Review of Revenue and Cost Graphs for a Monopoly## Review of marginal revenue (MR), total revenue (TR), marginal cost (MC) and average total cost (ATC) for a monopoly |

## 57) Oligopolies and Monopolistic Competition## Thinking about different markets that are in-between monopolies and perfect competition More free lessons at: http://www.khanacademy.org/video?v=PzDth |

## 58) Monopolistic Competition and Economic Profit## Why it is hard for a monopolisitc competitor to make economic profit in the long run More free lessons at: http://www.khanacademy.org/video?v=RUVsE |

## 59) Oligopolies, Duopolies, Collusion, and Cartels## Thinking about when oligopolies behave more like monopolies or perfect competitors More free lessons at: http://www.khanacademy.org/video?v=N0L00 |

## 60) Prisoners' Dilemma and Nash Equilibrium## Why two not-so-loyal criminals would want to snitch each other out More free lessons at: http://www.khanacademy.org/video?v=UkXI- |

## 61) More on Nash Equilibrium## Looking more closely at the definition of Nash Equilibrium More free lessons at: http://www.khanacademy.org/video?v=ewu_7 |

## 62) Why Parties to Cartels Cheat## Why duopolists would benefit to form a cartel and why it makes sense for them to cheat More free lessons at: http://www.khanacademy.org/video?v=S6TvR |

## 63) Game Theory of Cheating Firms## Pareto Optimality and more on Nash Equilibrium. Seeing how cheating duopolists parallels the prisoners dilemma More free lessons at: http://www.khanacademy.org/video?v=XTMbR |

## 64) Negative Externalities## Taking negative externalities into account when thinking about the optimal equilibrium price and quantity More free lessons at: http://www.khanacademy.org/video?v=nBw6K |

## 65) Taxes for Factoring in Negative Externalities## How to factor in negative externalities through taxation More free lessons at: http://www.khanacademy.org/video?v=UYShe |

## 66) Positive Externalities## Factoring in external benefits More free lessons at: http://www.khanacademy.org/video?v=TSTLL |

## 67) Tragedy of the Commons## How public resources can be abused More free lessons at: http://www.khanacademy.org/video?v=0b2Tl |

## 68) First Degree Price Discrimination## Charging different consumers different amounts in an attempt to optimize economic profit More free lessons at: http://www.khanacademy.org/video?v=z0wg9 |

## 69) A Firm's Marginal Product Revenue Curve## Thinking about how much incremental benefit a firm gets from hiring one more person More free lessons at: http://www.khanacademy.org/video?v=cwCln |

## 70) How Many People to Hire Given the MPR curve## Thinking about how many people it makes sense to hire. Brief discussion of a monopsony. More free lessons at: http://www.khanacademy.org/video?v=p8PSI |

## 71) Adding Demand Curves## How to add demand curves More free lessons at: http://www.khanacademy.org/video?v=gHs3z |

## 72) Circular Flow of Income and Expenditures## Understanding the flow of resources in the simplest possible economy More free lessons at: http://www.khanacademy.org/video?v=Hfz1b |

## 73) Parsing Gross Domestic Product## Understanding what GDP does and doesn't measure. More free lessons at: http://www.khanacademy.org/video?v=zh8XA |

## 74) More on Final and Intermediate GDP Contributions## What happens when a good is not finished in a period More free lessons at: http://www.khanacademy.org/video?v=C1pHv |

## 75) Investment and Consumption## Difference between every day and economic notions of investment and consumption More free lessons at: http://www.khanacademy.org/video?v=N9VIs |

## 76) Income and Expenditure Views of GDP## Looking at a simple model of an economy More free lessons at: http://www.khanacademy.org/video?v=Z9b8n |

## 77) Components of GDP## Understanding the components of the expenditure view of GDP. Consumption, investment, government spending and net exports More free lessons at: http://www.khanacademy.org/video?v=Rgr1v |

## 78) Examples of Accounting for GDP## Thinking about how different types of expenditures would be accounted for in GDP More free lessons at: http://www.khanacademy.org/video?v=BMNj7 |

## 79) Real GDP and Nominal GDP## Using real GDP as a measure of actual productivity growth More free lessons at: http://www.khanacademy.org/video?v=lBDT2 |

## 80) GDP Deflator## Relationship between the GDP deflator, nominal GDP and real GDP More free lessons at: http://www.khanacademy.org/video?v=L-0Lu |

## 81) Example Calculating Real GDP with a Deflator## Simple example of calculating Real GDP from Nominal GDP More free lessons at: http://www.khanacademy.org/video?v=v5YT8 |

## 82) Introduction to Inflation## Basics of price inflation and the CPI (consumer price index) More free lessons at: http://www.khanacademy.org/video?v=AaR1m |

## 83) Actual CPI-U Basket of Goods## Exploring the actual weightings for the CPI-U basket of goods More free lessons at: http://www.khanacademy.org/video?v=-JTw7 |

## 84) Phillips Curve## The observation that inflation and unemployment tend to be inversely correlated More free lessons at: http://www.khanacademy.org/video?v=v7ZWT |

## 85) Interest as Rent for Money## Thinking about interest as the price of money. Looking at money from a supply and demand perspective More free lessons at: http://www.khanacademy.org/video?v=Lru0v |

## 86) Money Supply and Demand Impacting Interest Rates## Examples showing how various factors can affect interest rates More free lessons at: http://www.khanacademy.org/video?v=vItRH |

## 87) The Business Cycle## The business cycle and how it may be driven by emotion More free lessons at: http://www.khanacademy.org/video?v=TXrOp |

## 88) Aggregate Demand## Understanding how aggregate demand is different from demand for a specific good or service. Justifications for the aggregate demand curve being downward sloping More free lessons at: http://www.khan ... |

## 89) Shifts in Aggregate Demand## Factors that might shift aggregate demand More free lessons at: http://www.khanacademy.org/video?v=scN-1 |

## 90) Long-Run Aggregate Supply## Thinking about why aggregate supply may not be influenced by prices in the long-run More free lessons at: http://www.khanacademy.org/video?v=8W0iZ |

## 91) Short Run Aggregate Supply## Justifications for the aggregate supply curve to be upward sloping in the short-run More free lessons at: http://www.khanacademy.org/video?v=3nbal |

## 92) Demand-Pull Inflation under Johnson## Thinking about whether inflation in the late 1960s is consistent with the AD-AS model More free lessons at: http://www.khanacademy.org/video?v=HdqbC |

## 93) Real GDP driving Price## Thinking about how high utilization could drive price as another justification for an upward sloping short-run aggregate supply curve More free lessons at: http://www.khanacademy.org/video?v=XsD7m ... |

## 94) Cost Push Inflation## How an oil shock can slow the economy while causing inflation More free lessons at: http://www.khanacademy.org/video?v=3A-nA |

## 95) Monetary and Fiscal Policy## Basic mechanics of monetary and fiscal policy More free lessons at: http://www.khanacademy.org/video?v=ntxMO |

## 96) Tax Lever of Fiscal Policy## How government can effect aggregate demand through tax policy More free lessons at: http://www.khanacademy.org/video?v=BRXBC |

## 97) Breakdown of Gas Prices## Where the dollars at the pump go More free lessons at: http://www.khanacademy.org/video?v=1YYy0 |

## 98) Short-Run Oil Prices## Thinking about what moves oil prices More free lessons at: http://www.khanacademy.org/video?v=Zxtlc |

## 99) Keynesian Economics## Contrasting Keynesian and Classical Thinking More free lessons at: http://www.khanacademy.org/video?v=hPkh8 |

## 100) Risks of Keynesian Thinking## Why Keynesian thinking might not be ideal sometimes More free lessons at: http://www.khanacademy.org/video?v=EVSkf |

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