Microeconomics examines the fundamentals of the American economy as it relates to business and individual welfare. Emphasis is on basic economic concepts and theories as they affect domestic and international markets. Microeconomics includes cost and production decisions and discusses the role of competition, monopolies, and oligopolies. This video channel contains close to 200 short instructional video clips that cover all of the topics of a typical microeconomics course and include the student learning objectives as described in the Texas ACGM.

Principles of Microeconomics for AP Courses covers the scope and sequence for a one-semester Advance Placement Microeconomics course. The book is on the example textbook list for the AP course here. The text also includes many current examples, including; the Keystone Pipeline, Occupy Wall Street, and debates over the minimum wage.

The PDF file available here is ideal for creating a print version of the textbook. This textbook offers a pluralistic approach to microeconomic theory, macroeconomic theory, and international economic theory. It adopts a critical approach to neoclassical economics and incorporates heterodox alternatives to mainstream economics throughout the book.

Two alleged criminals have been taken into custody. Will they remain loyal, or snitch each other out? Find out in this video! Created by Sal Khan.

Producer surplus is the difference between the price a producer gets and its marginal cost. This means the producer surplus is the difference between the supply curve and the price received. Created by Sal Khan.

In this video, Sal explains how the production possibilities curve model can be used to illustrate changes in a country's actual and potential level of output. Concepts covered include efficiency, inefficiency, economic growth and contraction, and recession. When an economy is in a recession, it is operating inside the PPC. When it is at full employment, it operates on the PPC.

The production possibilities curve (PPC) is a graph that shows all of the different combinations of output that can be produced given current resources and technology. Sometimes called the production possibilities frontier (PPF), the PPC illustrates scarcity and tradeoffs. In this video, we model tradeoffs and scarcity using the example of a hunter-gatherer who can split their time between two activities. Created by Sal Khan.

Learn about the profit maximization rule, and how to implement this rule in a graph of a perfectly competitive firm, in this video.

Market systems only function well when property rights are well defined. Take a deeper dive into the role of property rights in a market system in this video.

This subject is on regional energy-environmental modeling rather than on general energy-environmental policies, but the models should have some policy relevance. We will start with some discussion of green accounting issues; then, we will cover a variety of theoretical and empirical topics related to spatial energy demand and supply, energy forecasts, national and regional energy prices, and environmental implications of regional energy consumption and production. Where feasible, the topics will have a spatial dimension. This is a new seminar, so we expect students to contribute material to the set of readings and topics covered during the semester.

Price controls have the potential to reduce total surplus. In this video we step through some details on how one kind of regulation, a price ceiling, can reduce economic efficiency. A real world example of a price ceiling is rent control, which some cities have experimented with as a way to control rising housing costs. Created by Sal Khan.

A case based upon the environmental devastation of the Aral Sea that illustrates economic concepts of opportunity cost and social marginal cost.

In this video, we review the key features, behavior, and consequences of a monopoly. Created by Sal Khan.

Ricardian Explorer, implemented on the internet, simulates a Ricardian trade model with linear production technology and a CES utility function. The typical simulation has two countries and two goods. While Ricardian explorer was developed to supplement a course in international trade, it can also be used in intermediate microeconomics and microeconomic principles courses. The authors of the simulation are Alberto Isgut and Tanya Rosenblat of Wesleyan University.

Learn the difference between rivalry and excludability, and how these characteristics determine whether a good is a private good, public good, artificially scarce good, or common resource.

In this video, walk through the solution to a question on the effect of tariffs from the 2012 AP(R) Microeconomics exam.

Dealing with scarcity is the basis of economics, but what does it mean to say that something is scarce? In this video, we explore the definition of scarcity in economics and how scarce resources are different from free resources.