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Lec 1 | MIT 14.01SC Principles of Microeconomics

Contributor

Jon Gruber

Subject/Level/Grades: Economics Undergraduate 2:1,First
Summary:

Lecture 1: Introduction to Microeconomics. Economics may have a reputation as a dismal science, but in fact it addresses some of the most fundamental problems we face: How to make the best decision given that resources are limited. You can use the tools of microeconomics to decide how best to spend your income; how best to divide your time among leisure activities; or how many people to hire in the business you run. Life is full of choices. Microeconomics can help you decide how to make them.

Assumed Knowledge:

It would be helpful if you have watched the previous videos of the same series. This course will also include some basic uni-variate calculus material.

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Content Tags:
Core: Microeconomics, prices, normative economics, positive economics, microeconomic applications
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