Intro Track: First Steps in Microeconomics
Microeconomics without the math barrier — from supply and demand through consumer choice, costs, monopoly, and policy. Move the sliders and build intuition first.
Guided tours through the scenes, grouped by theme. Follow them in order and the ideas build up naturally.
Microeconomics without the math barrier — from supply and demand through consumer choice, costs, monopoly, and policy. Move the sliders and build intuition first.
From preferences through the budget line, utility maximization, and the Slutsky decomposition — the heart of demand theory in order.
What is rational choice — from the axioms of preference relations to choice rules and WARP.
From isoquants through cost minimization to average and marginal cost curves — a tour of producer theory.
From expected utility through the measurement of risk aversion to the demand for insurance — choice under uncertainty.
What survives aggregation — aggregate demand and the representative consumer.
From strategic-form games through Nash equilibrium, mixed strategies, and backward induction in dynamic games — the skeleton of game theory in order.
From supply-demand equilibrium and welfare triangles through externalities and public goods to monopoly and oligopoly — how markets work and fail.
From the Edgeworth box through existence and stability of equilibrium, core convergence, equilibrium under uncertainty and time, to the limits of social choice.
From the lemons market through signaling, screening, and the principal-agent problem to auctions and mechanism design — economics when information is asymmetric.