By Jodi Beggs
- Introduction to Economics
- The Supply and Demand Model
- Market Equilibrium
- Changes in Equilibrium
- Markets for the Factors of Production
- Measuring Economic Value
- Utility Maximization
- Production and Profit Maximization
- Types of Markets
- International Trade
- Government Regulation
- Externalities and Public Goods
- Income Distribution
Introduction to Economics
This category provides a very basic introduction to the field of economics and prepares students and readers to move on to the other sections of the site.
- What Is Economics?
- Microeconomics vs. Macroeconomics
- Economics as the "Dismal Science?"
- Positive Versus Normative Analysis in Economics
The Supply and Demand Model
This category goes through the basics of the supply and demand model that is widely used in economics.
This category introduces the concept of demand and the demand curve. It also explains what shifts the demand curve and goes through some demand curve algebra.
This category introduces the concept of supply and the supply curve. It also explains what shifts the supply curve and goes through some supply curve algebra.
This category introduces the concept of market equilibrium and explains how equilibrium is calculated.
- Supply and Demand Equilibrium
- Calculating Economic Equilibrium
- Supply & Demand Practice Question
- 10 Supply and Demand Practice Questions
- The Effects of a Black Market Using Supply and Demand
Changes in Equilibrium
This category introduces the concept of changes in equilibrium, or comparative statics, and explains how to calculate those changes both qualitatively and quantitatively.
- Changes in Market Equilibrium
- Changes in Equilibrium with Multiple Curve Shifts
- The Economics of Price Gouging
- Market Distortions
This category introduces the concept of elasticity and shows how it is calculated. It also outlines the different types of elasticity and illustrates an important application of the elasticity concept.
- Introduction to Elasticity
- Price Elasticity of Demand
- Price Elasticity of Supply
- Income Elasticity of Demand
- Cross-Price Elasticity of Demand
- Arc Elasticity
- Elasticity Versus the Slopes of the Demand and Supply Curves
- The Relationship Between Revenue and Price Elasticity of Demand
- Using Calculus To Calculate Price Elasticity of Demand
- Using Calculus To Calculate Price Elasticity of Supply
- Using Calculus To Calculate Income Elasticity of Demand
- Using Calculus To Calculate Cross-Price Elasticity of Demand
- Elasticity Practice Question
- What's the Price Elasticity of Demand for Gasoline?
- Adventures in Downward Sloping Demand Curves and Elasticity
Markets for the Factors of Production
This category illustrates the supply and demand model in the context of markets for factors of production such as labor and capital.
Measuring Economic Value
This category introduces measures of economic value and shows how to calculate the value that markets create.
- Introduction to Welfare Analysis
- Introduction to Consumer Surplus
- Introduction to Producer Surplus
- Finding Consumer Surplus and Producer Surplus Graphically
This category introduces the utility maximization framework and shows how consumers' demand is derived.
Production and Profit Maximization
This category introduces various measures of revenue, cost and profit and shows how firms make production decisions to maximize profit.
- The Production Possibilities Frontier
- The Short Run Versus The Long Run
- The Production Function
- Average and Marginal Product
- Returns to Scale
- Opportunity Cost as True Economic Cost
- Opportunity Costs and Tradeoffs
- Introduction to Revenue
- The Costs of Production
- Cost Curves
- The Relationship Betweeen Average and Marginal Cost
- Cost Curves Part 2 - Average and Marginal Costs
- Cost Minimization
- Marginal Revenue and the Demand Curve
- The Shut-Down Condition
- Economies of Scale
- Calculating Profit
- Profit Maximization
- Graphing Profit
Types of Markets
This category gives an overview of different types of market structures and describes how prices and quantities are set in each.
- Introduction to Competitive Markets
- The Short Run Versus The Long Run
- What Is a Monopoly?
- What You Need to Know About Monopolies
- The Economic Inefficiency of Monopoly
- Natural Monopoly
- Federal Efforts to Control Monopoly
- Monopolies, Mergers, and Restructuring
- Introduction to Monopolistic Competition
This category contains articles pertaining to international trade from a microeconomic perspective.
This category analyzes the impact of various types of government intervention on the amount of value created in a market.
- Types of Taxes
- The Effect of Income Taxes on Economic Growth
- Analysis of a Subsidy
- How Good Intentions Lead to Crushing Marginal Tax Rates on the Working Poor
- FairTax - Income Taxes vs. Sales Taxes
- Should Income Tax Rates Depend on Lifetime Earnings?
- Payroll Tax Reduction - One Approach to a Carbon Tax
- Do Richer People Pay a Higher Proportion of Tax Under a Flat Tax?
- Gas Tax and Carbon Tax FAQ
- Oregon's Mileage Tax: A Truly Bad Idea
- How Do High Small Business Corporate Tax Rates Hurt The Economy?
- Should Governments Legalize and Tax Marijuana?
- The Arguments Against Free Trade
Externalities and Public Goods
This category introduces the concept of externalities, or market side effects, and discusses the effect of externalities on the value created by a market. It also introduces various types of goods that result in market failures.
- Introduction to Externalities
- A Negative Externality on Production
- A Positive Externality on Production
- A Positive Externality on Consumption
- A Negative Externality on Consumption
- The Coase Theorem
- Promoting Economic Growth and Reducing Externalities - Pigou Club
- Public Goods, Common Resources and Club Goods
- Banning Lightbulbs to Combat an Externality
- The Logic of Collective Action
This category explains how economists quantify income distribution within a society.