Intermediate Microeconomics

How economists describe what people want: preference axioms, indifference curves, utility functions and the marginal rate of substitution.

1. Preferences and Their Axioms
2. Indifference Curves
3. Utility Functions
4. Marginal Utility as a Partial Derivative
5. The Marginal Rate of Substitution
6. Substitutes, Complements, Cobb-Douglas and Quasilinear

Budget sets, the best affordable bundle, corners and kinks, the Lagrange method, minimizing spending, and revealed preference.

1. Budget Sets
2. The Best Affordable Bundle
3. Cobb-Douglas Demand
4. Corners and Kinks
5. The Lagrange Method for Consumers
6. Minimizing Spending for a Target Utility
7. Revealed Preference

How demand responds to income and prices, income and substitution effects, point elasticity, market demand, and money measures of gains and losses.

1. Income Changes and Engel Curves
2. Price Changes and the Demand Curve
3. Substitution and Income Effects
4. Point Elasticity with Calculus
5. Adding Up to Market Demand
6. Consumer Surplus as an Integral
7. Compensating and Equivalent Variation

Choosing between work and leisure, between now and later, and among risky prospects.

1. Labor Supply and Leisure
2. Present Value
3. Saving and Borrowing over Time
4. Expected Utility
5. Risk Aversion and Certainty Equivalents
6. Insurance

Production functions with calculus, isoquants, returns to scale, cost minimization and cost functions.

1. Production Functions and Marginal Products
2. Isoquants and the MRTS
3. Returns to Scale
4. Cost Minimization
5. Cost Functions and Marginal Cost
6. Short-Run and Long-Run Cost
7. Where Average Cost Is Lowest

The firm's supply curve, producer surplus, long-run equilibrium with free entry, and the incidence and cost of taxes.

1. The Competitive Firm's Supply Curve
2. Producer Surplus as an Integral
3. Long-Run Industry Equilibrium
4. Tax Incidence with Elasticities
5. Deadweight Loss of a Tax

Monopoly with calculus, markups and the Lerner index, pricing in separate markets, two-part tariffs and monopsony.

1. Monopoly with Calculus
2. Markups and the Lerner Index
3. Pricing in Separate Markets
4. Two-Part Tariffs
5. Monopsony with Calculus

Nash equilibrium in pure and mixed strategies, sequential and repeated games, oligopoly models and auctions.

1. Best Responses and Nash Equilibrium
2. Mixed Strategies
3. Sequential Games and Backward Induction
4. Repeated Games and Cooperation
5. Cournot Competition
6. Bertrand Competition
7. Stackelberg Leadership
8. Auctions

Trade between two people in an Edgeworth box, competitive equilibrium in exchange, and the two welfare theorems.

1. The Edgeworth Box and Pareto Efficiency
2. Competitive Equilibrium in Exchange
3. The Welfare Theorems

Externalities with calculus, the Coase theorem, public goods, common resources, adverse selection, moral hazard and signaling.

1. The Efficient Amount of an Externality
2. The Coase Theorem
3. Providing Public Goods Efficiently
4. Common Resources
5. Adverse Selection and Lemons
6. Moral Hazard and Incentives
7. Signaling