Full Microeconomics Curriculum

The building blocks every economist uses — scarcity, trade-offs, and how societies organize production.

The foundational model of how prices emerge from the interaction of buyers and sellers in a market.

How responsive buyers and sellers are to price changes — and why it matters for revenue, tax policy, and strategy.

How consumers make choices — preferences, utility, indifference curves, and the budget constraint.

How individual choices aggregate into market demand — income effects, substitution effects, and aggregation.

How firms turn inputs into outputs — production functions, diminishing returns, and the cost curves that drive business decisions.

The benchmark market structure — how price-taking firms maximize profit and why economic profit vanishes in the long run.

Measuring who gains and who loses — surplus analysis, price controls, taxes, and subsidies.

What happens when a single firm controls the market — pricing power, inefficiency, and price discrimination.

When a few firms dominate — strategic interaction, Nash equilibrium, and models of oligopoly competition.

How people make decisions under uncertainty — expected value, risk aversion, and the biases that shape real behavior.

How wages and employment are determined — labor demand, labor supply, and the marginal revenue product of labor.

The big picture — how all markets interact simultaneously and when free markets maximize social welfare.

What happens when one side of the market knows more than the other — adverse selection, moral hazard, and market unraveling.