Microeconomics

Thomas J. Nechyba is Professor of Economics at the Sanford School of Public Policy, Duke University, US. At Duke, he has previously served as Director of Undergraduate Studies and as Department Chair and currently directs the Economics Center for Teaching (EcoTeach) as well as Duke's Social Science Research Institute. In addition to his activities in the US, he has lectured internationally in Europe, Latin America and New Zealand.

1. Introduction.
Part I: CONSUMERS, WORKERS AND SAVERS/BORROWERS.
2. Choice Sets and Budget Constraints.
3. Choice Sets in Labor and Financial Markets.
4. Tastes and Indifference Curves.
5. Different Types of Tastes.
6. Doing the Best We Can.
7. Income and Substitution Effects in Consumer Goods Markets.
8. Wealth and Substitution Effects in Labor and Financial Markets.
9. Demand for Goods and Supply of Labor and Capital.
10. Consumer Surplus and Dead Weight Loss.
Part II: PRODUCERS (OR FIRMS).
11. Single Input Production.
12. Production with Multiple Inputs.
13. Production Decisions in the Short and Long Run.
Part III: PRICES, MARKETS, AND THE FUNDAMENTAL WELFARE THEOREMS.
14. Competitive Market Equilibrium.
15. The Invisible Hand and Market Equilibrium.
16. General Equilibrium.
17. Risk and Uncertainty.
Part IV: DISTORTIONS OF THE INVISIBLE HAND IN COMPETITIVE MARKETS.
18. Elasticities, Price Distorting Policies and Non-Price Rationing.
19. Taxes and Subsidies.
20. Interference with Trading Across Time and Space.
21. Production and Consumption Externalities.
22. Asymmetric Information (Insurance Markets, Discrimination).
Part V: DISTORTIONS OF THE INVISIBLE HAND FROM NON-COMPETITIVE MARKETS.
23. An Introduction to Game Theory.
24. Market Power: Monopoly and Monopsony.
25. Innovation and Monopolistic Competition.
26. Oligopoly.
27. Public Goods.
Part VI: MAKING THE WORLD A BETTER PLACE.
28. Governments and Politics.
29. What is Good?
30. Balancing Government, Civil Society and Markets.