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ECON 101
U of A
Course Overview
Grade Boosters
Lessons & Practice
I. Welcome
46 sec
1. Economic Concepts
34min
1.1. General Economic Terms
0/2
1.1.1. Definitions
8 min
1.1.2. Practice: Definitions
51 sec
1.2. Opportunity Cost and the PPF
0/6
1.2.1. Production Possibilities Frontier: Concave PPF
8 min
1.2.2. Production Possibilities Frontier: Linear PPF
3 min
1.2.3. Example: PPF and Opportunity Cost
1 min
1.2.4. Example: PPF and Efficiency
2 min
1.2.5. Practice: PPF
2 min
1.2.6. Practice: Opportunity Cost
2 min
1.3. Accounting and Economic Costs/Profit
0/2
1.3.1. Economic Costs and Profit
3 min
1.3.2. Practice: Economic Cost and Profit
2 min
1.4. Positive and Normative Economics
0/2
1.4.1. Positive vs Normative Economics
1 min
1.4.2. Practice: Positive and Normative Statements
1 min
2. Demand and Supply
43min
2.1. Demand
0/3
2.1.1. Demand
9 min
2.1.2. Example: Demand
1 min
2.1.3. Practice: Demand
2 min
2.2. Supply
0/2
2.2.1. Supply
7 min
2.2.2. Practice: Supply
1 min
2.3. Market Equilibrium
0/7
2.3.1. Market Equilibrium
5 min
2.3.2. Example: Equilibrium with a Table
4 min
2.3.3. Example: Drawing Graphs
4 min
2.3.4. Practice: Drawing Graphs
3 min
2.3.5. Practice: Graphs with One Good
2 min
2.3.6. Practice: Graphs with Two Different Goods
3 min
2.3.7. Practice: Equilibrium with Equations
2 min
3. Elasticity
1.5hr
3.1. Point Price Elasticity of Demand
0/2
3.1.1. Point Price Elasticity of Demand
8 min
3.1.2. Example: Point Elasticity with Numbers and Equations
6 min
3.2. Arc Price Elasticity of Demand
0/2
3.2.1. Arc Price Elasticity of Demand
5 min
3.2.2. Example: Arc Price Elasticity of Demand
5 min
3.3. Factors that Affect Elasticity
0/3
3.3.1. Factors That Affect Elasticity
5 min
3.3.2. Example: Factors That Affect Elasticity
51 sec
3.3.3. Practice: Factors That Affect Elasticity
3.4. Different Elasticities Along the Demand Curve and Total Revenue
0/2
3.4.1. Different Elasticities Along Demand and Total Revenue
12 min
3.4.2. Example: Different Elasticities Along the Demand Curve and Total Revenue
3 min
3.5. Perfectly Elastic and Inelastic
0/3
3.5.1. Perfectly Elastic and Inelastic
4 min
3.5.2. Example: Steep and Flat Demand Curves
1 min
3.5.3. Practice: Steep and Flat Demand Curves
2 min
3.6. Income Elasticity
0/3
3.6.1. Income Elasticity
4 min
3.6.2. Example: Income Elasticity
3 min
3.6.3. Practice: Income Elasticity
1 min
3.7. Cross Price Elasticity
0/3
3.7.1. Cross Price Elasticity of Demand
3 min
3.7.2. Example: Cross Price Elasticity of Demand
12 min
3.7.3. Practice: Cross Price Elasticity of Demand
3 min
3.8. Price Elasticity of Supply
0/2
3.8.1. Price Elasticity of Supply
9 min
3.8.2. Example: Elasticity of Supply
1 min
4. Government Interventions in Markets
1.2hr
4.1. Price Ceiling
0/3
4.1.1. Price Ceiling
5 min
4.1.2. Example: Price Ceiling
2 min
4.1.3. Example: Rent Control and Elasticity
4 min
4.2. Price Floor
0/3
4.2.1. Price Floor
5 min
4.2.2. Example: Price Floor
3 min
4.2.3. Practice: Price Floor
6 min
4.3. Tax
0/2
4.3.1. Tax
9 min
4.3.2. Practice: Tax
4.4. Tax Incidence / Tax Burden
0/4
4.4.1. Tax Incidence / Tax Burden
8 min
4.4.2. Tax Incidence / Tax Burden with Perfectly Elastic and Inelastic Curves
6 min
4.4.3. Example: Tax Incidence / Tax Burden
1 min
4.4.4. Practice: Tax Incidence / Tax Burden
2 min
4.5. Subsidies
0/3
4.5.1. Subsidies
4.5.2. Example: Subsidies
4 min
4.5.3. Practice: Subsidies
3 min
4.6. Quota
0/3
4.6.1. Quota
3 min
4.6.2. Example: Quota
2 min
4.6.3. Practice: Quota
2 min
5. Efficiency
1.7hr
5.1. Consumer Surplus
0/3
5.1.1. Consumer Surplus
7 min
5.1.2. Example: Consumer Surplus
2 min
5.1.3. Practice: Consumer Surplus
3 min
5.2. Producer Surplus
0/2
5.2.1. Producer Surplus
4 min
5.2.2. Example: Producer Surplus
2 min
5.3. Total Surplus
0/2
5.3.1. Total Surplus
3 min
5.3.2. Example: Total Surplus
4 min
5.4. Marginal Benefit and Marginal Cost
0/2
5.4.1. Marginal Benefit and Marginal Cost
5 min
5.4.2. Practice: Marginal Benefit and Cost
3 min
5.5. CS and PS with Taxes
0/4
5.5.1. Tax and Welfare
9 min
5.5.2. Example: Tax and Elasticity
7 min
5.5.3. Practice: CS and PS with Taxes
3 min
5.5.4. Laffer Curve
3 min
5.6. CS and PS with Price Ceilings
0/3
5.6.1. CS and PS with Price Ceilings
7 min
5.6.2. Example: CS, PS, DWL with Price Ceiling
7 min
5.6.3. Practice: CS, PS, DWL with Price Ceiling
1 min
5.7. CS and PS with Price Floors
0/2
5.7.1. CS and PS with Price Floors
5 min
5.7.2. Example: CS, PS, DWL with Price Floors
6 min
5.8. CS and PS with Quotas
0/2
5.8.1. CS and PS with Quotas
4 min
5.8.2. Example: CS, PS, DWL with Quotas
5 min
5.9. CS and PS with Subsidies
0/2
5.9.1. CS and PS with Subsidies
5.9.2. Practice: CS, PS, DWL with Subsidy
5 min
6. Production and Costs
60min
6.1. Average Product and Marginal Product
0/3
6.1.1. Average Product and Marginal Product
12 min
6.1.2. Example: Marginal and Average Product
2 min
6.1.3. Practice: Marginal vs Average Product
3 min
6.2. Fixed Costs and Variable Costs
0/3
6.2.1. Fixed Costs and Variable Costs
13 min
6.2.2. Example: Fixed and Variable Costs
9 min
6.2.3. Practice: Fixed and Variable Costs
4 min
6.3. Long Run Costs
0/2
6.3.1. Long Run Costs
8 min
6.3.2. Practice: Long Run Costs
50 sec
6.4. Cost Minimization in the Long Run
0/2
6.4.1. Cost Minimization in the Long Run
4 min
6.4.2. Example: Cost Minimization in the Long Run
3 min
7. Firms in Competitive Markets (Perfect Competition)
42min
7.1. Profit Maximization
0/3
7.1.1. Profit Maximization
9 min
7.1.2. Example: Profit Maximization
2 min
7.1.3. Practice: Profit Maximization
3 min
7.2. Shutdown Rule
0/5
7.2.1. Shutdown Rule and Profit
9 min
7.2.2. Practice: Shutdown Point
2 min
7.2.3. Practice: Break-Even Point
2 min
7.2.4. Example: Shutdown Rule
3 min
7.2.5. Practice: Supply Curve and Shutdown Rule
1 min
7.3. Long Run
0/4
7.3.1. Long Run
6 min
7.3.2. Example: Long Run
55 sec
7.3.3. Practice: Long Run
1 min
7.3.4. Practice: Perfect Competition
3 min
8. Monopoly
51min
8.1. Profit Maximization
0/4
8.1.1. Profit Maximization in a Monopoly
11 min
8.1.2. Example: Profit Maximization
3 min
8.1.3. Practice: Profit Maximization
24 sec
8.1.4. Practice: Marginal Revenue
2 min
8.2. Monopoly Deadweight Loss
0/2
8.2.1. Monopoly Deadweight Loss
5 min
8.2.2. Example: Monopoly Deadweight Loss
9 min
8.3. Price Discrimination
0/3
8.3.1. Price Discrimination
8 min
8.3.2. Example: Price Discrimination
3 min
8.3.3. Practice: Price Discrimination
3 min
8.4. Government Intervention
0/3
8.4.1. Government Intervention
4 min
8.4.2. Example: Government Intervention
30 sec
8.4.3. Practice: Government Intervention
1 min
9. Monopolistic Competition
29min
9.1. What is Monopolistic Competition?
0/4
9.1.1. What is Monopolistic Competition
8 min
9.1.2. Example: Monopolistic Competition
1 min
9.1.3. Practice: Monopolistic Competition
1 min
9.1.4. Practice: Different Industries
2 min
9.2. Short Run vs Long Run Equilibrium
0/3
9.2.1. Short and Long Run Equilibrium
7 min
9.2.2. Example: Short and Long Run Equilibrium
2 min
9.2.3. Practice: Long Run Equilbrium
2 min
9.3. Advertising
0/2
9.3.1. Advertising
2 min
9.3.2. Practice: Advertising
1 min
9.4. Product Variety and Business Stealing Externality
0/2
9.4.1. Product Variety and Business Stealing Externality
1 min
9.4.2. Example: Product Variety and Business Stealing Externality
1 min
10. Oligopoly
56min
10.1. Game Theory and Nash Equilibrium
0/3
10.1.1. Oligopoly and Game Theory
13 min
10.1.2. Example: Oligopoly and Game Theory
8 min
10.1.3. Practice: Oligopoly and Game Theory
54 sec
10.2. Prisoner's Dilemma
0/2
10.2.1. Prisoner's Dilemma
8 min
10.2.2. Example: Nash Equilibrium with Common Resources
5 min
10.3. Cartels, Collusion, Output and Price Effect
0/2
10.3.1. Cartels, Output and Price Effect
13 min
10.3.2. Practice: Output and Price Effect
46 sec
10.4. Government Policy Towards Oligopolies
0/2
10.4.1. Government Policy
3 min
10.4.2. Practice: Government Policy Towards Oligopolies
32 sec
10.5. Kinked Demand Curve
0/2
10.5.1. Kinked Demand Curve
3 min
10.5.2. Practice: Kinked Demand Curve
43 sec
11. Gains from Trade
46min
11.1. Absolute & Comparative Advantage
0/3
11.1.1. Absolute and Comparative Advantage
11 min
11.1.2. Example: Absolute and Comparative Advantage
7 min
11.1.3. Practice: Absolute and Comparative Advantage
3 min
11.2. Gains from Trade
0/4
11.2.1. Gains from Trade
8 min
11.2.2. Example: Gains from Trade
4 min
11.2.3. Example: Consumption (Trading) Possibility Curve
7 min
11.2.4. Practice: Gains from Trade
5 min
12. International Trade (Exports and Imports)
43min
12.1. Exporting Country
0/2
12.1.1. Exports
9 min
12.1.2. Practice: Exports
55 sec
12.2. Importing Country
0/4
12.2.1. Imports with Free Trade
8 min
12.2.2. Imports with Tariff
9 min
12.2.3. Example: Tariff
10 min
12.2.4. Practice: Tariff
1 min
12.3. Pros and Cons of Trade
0/2
12.3.1. Pros and Cons of Trade
5 min
12.3.2. Practice: Pros and Cons of Trade
13. Economic Efficiency and Government Intervention
20min
13.1. Production and Allocative Efficiency
0/3
13.1.1. Production and Allocative Efficiency
9 min
13.1.2. Example: Production and Allocative Efficiency
2 min
13.1.3. Example: Efficiency with Different Market Structures
1 min
13.2. Government Intervention
0/2
13.2.1. Government Intervention with Natural Monopolies
7 min
13.2.2. Example: Government Intervention with Natural Monopolies
49 sec
14. Theory of Consumer Choice
1.5hr
14.1. Total and Marginal Utility
0/2
14.1.1. Total and Marginal Utility
6 min
14.1.2. Example: Total and Marginal Utility
2 min
14.2. Paradox of Value
0/2
14.2.1. Paradox of Value
3 min
14.2.2. Practice: Paradox of Value
53 sec
14.3. Indifference Curves
0/2
14.3.1. Indifference Curves
11 min
14.3.2. Example: Indifference Curves
1 min
14.4. Perfect Complements and Substitutes
0/2
14.4.1. Perfect Complements and Substitutes
4 min
14.4.2. Example: Perfect Complements and Substitutes
2 min
14.5. Budget Constraint
0/2
14.5.1. Budget Constraint
5 min
14.5.2. Practice: Budget Constraint
50 sec
14.6. Optimal Bundle (Utility Maximization)
0/4
14.6.1. Optimal Bundle (MUx/Px = MUy/Py)
5 min
14.6.2. Example: Optimal Bundle (MUx/Px = MUy/Py)
1 min
14.6.3. Optimal Bundle (Indifference Curve and Budget Constraint)
4 min
14.6.4. Example: Optimal Bundle (Indifference Curve and Budget Constraint)
2 min
14.7. Changes in Income
0/2
14.7.1. Changes in Income
4 min
14.7.2. Example: Changes in Income
2 min
14.8. Changes in Price
0/2
14.8.1. Changes in Price
3 min
14.8.2. Example: Changes in Price
2 min
14.9. Deriving the Demand Curve
0/2
14.9.1. Deriving the Demand Curve
4 min
14.9.2. Example: Deriving the Demand Curve
2 min
14.10. Substitution and Income Effect
0/3
14.10.1. Substitution and Income Effect on Demand
8 min
14.10.2. Substitution and Income Effect with Indifference Curves
7 min
14.10.3. Example: Substitution and Income Effect with Indifference Curves
3 min
14.11. Work - Leisure Choices
0/2
14.11.1. Work - Leisure Choices
3 min
14.11.2. Example: Work - Leisure Choices
2 min
15. Public Goods and Common Resources
17min
15.1. Public Goods and Common Resources
0/5
15.1.1. Different Types of Goods
10 min
15.1.2. Example: Different Types of Goods
1 min
15.1.3. Practice: Different Types of Goods
2 min
15.1.4. Example: Free Rider Problem
2 min
15.1.5. Practice: Free Rider Problem
2 min
16. Labor Market
34min
16.1. Profit Maximization in Labor Market
0/2
16.1.1. Profit Maximization in Labor Market (VMP = Wage)
9 min
16.1.2. Practice: Profit Maximization in Labor Market
1 min
16.2. Demand and Supply of Labor
0/3
16.2.1. Demand and Supply of Labor
9 min
16.2.2. Example: Demand and Supply of Labor
2 min
16.2.3. Practice: Demand and Supply of Labor
22 sec
16.3. Monopsony and Perfectly Competitive Labor Market
0/2
16.3.1. Monopsony and Perfectly Competitive Labor Market
5 min
16.3.2. Example: Labor Market and Monopsony
7 min
17. Externalities/Market Failures
32min
17.1. Negative Externalities
0/3
17.1.1. Negative Externalities
12 min
17.1.2. Example: Negative Externality
55 sec
17.1.3. Practice: Negative Externality
1 min
17.2. Correcting Negative Externalities
0/2
17.2.1. Correcting Negative Externalities
6 min
17.2.2. Practice: Correcting Negative Externalities
2 min
17.3. Positive Externalities
0/3
17.3.1. Positive Externalities
7 min
17.3.2. Example: Positive Externalities
2 min
17.3.3. Practice: Positive Externalities
1 min
18. Government Intervention and Public Policy
16min
18.1. Public Policy
0/4
18.1.1. Public Policy
8 min
18.1.2. Example: Public Policy
1 min
18.1.3. Practice: Public Policy
1 min
18.1.4. Example: Public Policy
58 sec
18.2. Problems with Government Intervention
0/2
18.2.1. Problems with Government Intervention
3 min
18.2.2. Practice: Problems with Government Intervention
56 sec
Mock Exams
ME.1. Midterm 2 - Mock Assessment
43 Qns
ME.2. Final Exam - Mock Assessment
70 Qns
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