TeacherProfessor of Economics at Howard Community College since 1983. Author of Principles of Macroeconomics and Principles of Microeconomics online texts (inflateyourmind.com) with nearly 1.5 million page views. Born and raised in Amsterdam, The Netherlands.... View Profile
- Total Time 1 hr, 40 min
- Lessons 15
- Attachments 15
- Exercises 41
15 Lessons in This Course
5 minFREEEconomics lesson 1Free3 CQ
In the long run, firms in competitive markets make choices about production that are important to consider. Do just that with a long run average cost curve!
5 minEconomics lesson 23 CQ
What is a kinked demand curve model? Considering businesses in an oligopoly industry, review an example of what happens when competing product prices change.
4 minEconomics lesson 33 CQ
In this economics lesson, review profit maximization in the case of a firm facing monopolistic competition, and consider the potential for above-normal profits.
5 minEconomics lesson 43 CQ
If you understand monopoly profit maximization, why not consider it graphically? Interpret graphs to figure out what a firm does in order to maximize profits.
4 minEconomics lesson 53 CQ
Learn how firms behave differently in the long run, why above-normal profits are not sustainable, and what happens when other firms enter in pure competition.
12 minEconomics lesson 67 CQ
Delve into the profit maximization model using a graphical approach in this lesson and learn about calculating profit for a firm in pure economic competition.
9 minEconomics lesson 75 CQ
Now that you're comfortable interpreting basic graphs, learn about maximizing profits, optimizing production, and reading data tables in this economics lesson.
8 minEconomics lesson 85 CQ
Dive into economic fundamentals, including three concepts: price elasticity of demand, cross price elasticity of demand, and price elasticity of supply.
4 minEconomics lesson 93 CQ
Using free international trade as an example, review the economic principles of absolute and comparative advantage, and learn why trade is good for the economy.
6 minEconomics lesson 104 CQ
Looking to the United States as an example, learn about trends in income distribution and income inequality, and learn to interpret a pie chart.
5 minEconomics lesson 113 CQ
To consider how an economy works, start with a thought experiment: thirty people on a deserted island. Then try applying the circular flow model in economics!
5 minEconomics lesson 123 CQ
Review profit maximization once again with a classic economic example: a monopoly. In this lesson learn why monopolies are different than competitive markets.
6 minEconomics lesson 134 CQ
Whether considering economies on a large or small scale, cost (whether implicit or explicit) is a fundamental consideration to understanding economic dynamics.
2 minEconomics lesson 142 CQ
Where do accounting principles and economics coincide? In this econ lesson! Learn about the differences between economic and accounting profit calculations.
12 minEconomics lesson 157 CQ
Build on the foundations of economic theory in this lesson where economic cost calculations are reviewed. Discover seven different kinds of economic costs.
57 minFREEEconomics courseFree20 CQ
Join this Curious Conversation with American economist Peter Orszag to address important issues, including healthcare, equality, and political gridlock.
15100 min15-part Economics course58 CQ
There are many fields that study human behavior. Yet, perhaps the most fundamental way to look at how people, organizations, and businesses make decisions and use resources is economics!
744 min7-part Economics course26 CQ
Successful stock trading is a matter of timing. In this course, learn how to recognize stock market corrections, and get expert tips on positioning yourself to profit when a bear market turns bullish.
10 minFREEScience lessonFree6 CQ
There's no such thing as throwing something away, says Andrew Dent -- when you toss a used food container, broken toy or old pair of socks into the trash, th...
5 minFREEPolitical Science Worldly CurioFree3 CQ
President Donald Trump is driving the global conversation on trade toward protectionism: the imposition of tariffs on imported goods. That may seem like a go...with PRI's The World
President Donald Trump is driving the global conversation on trade toward protectionism: the imposition of tariffs on imported goods. That may seem like a go...