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Micro Unit 2  The Nature & Function of Product Markets

Unit 2 Key Ideas

Text:  Economics by McConnell & Brue 14th ed.

Visuals for Unit 2

• All Unit 2 Visuals
• Mic2-1   MidPoint Method (formula)
• Mic2-2   Price Elasticity of Demand
• Mic2-3   Tax Incidence & Elasticity of Demand
• Mic2-4   Price Ceiling
• Mic2-5   Price Floor
• Mic2-6   The Effect of Pollution
• Mic2-7   Deadweight Loss of a Price Ceiling

(19th ed.) PowerPoints:
Chapter 3 Demand, Supply, & Market Equilibriuim (19th ed.)
Chapter 3 Additional Examples of Supply & Demand (19th ed.)
Chapter 4 Elasticity (19th ed.)


Practice Questions:

• Blackboard:  Chapters 3 and 20

Videos:

ACDC Micro Unit 2 Videos

• ACDC Micro Intro Supply/Demand (1:33)
• ACDC Micro 2-1 Supply & Demand Curves (Basic Concepts) (4:43)
• ACDC Micro 2-2 Supply/Demand (4:43) (Sub. Effect, Income Effect, Law of DMU)
• ACDC "Change in Demand vs. Change in Qd" Key Concept (1:47)
• ACDC Micro 2-3 Shifting Supply/Demand Practice (2:51) 
• ACDC Micro 2-4 Double Shifts in Supply/Demand (2:34)
• ACDC Micro 2.5 Economics Price Controls(Floors & Ceilings) (1:31)
• ACDC Micro 2-6 Consumer & Producer Surplus (Dead Weight Loss) (3:43)
• ACDC Micro 2-7 Tariffs & Quotas (6:51)
• ACDC Micro 2-8 Excise Tax Practice (Who Bears the Burden etc. & Dead Weight Loss) (3:40)
• ACDC Micro 2-9 Elasticity of Demand Coefficients (Price, Cross, & Income) (7:03)
• ACDC Micro 2-10 Total Revenue Test & Elasticity Review (2:37)
• ACDC Micro 2-11 Utility Maximization (2:11)

Other Micro Units:

• An Online Lesson on Demand and Supply
  Take a look at EcEdWeb pages for teaching demand and supply, with explanations followed by a self quiz. Would appreciate comments if you feel so inclined. If you use a Javascript-compatible browser, please do look at the self-quiz for students.

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