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Principles of Microeconomics

A supply curve (increasing line) and a demand curve (decreasing line) intersect at the market price. The x-axis is quantity and the y-axis is price.

Supply and demand curves intersect at the market price. (Image by MIT OpenCourseWare.)

Instructor(s)

MIT Course Number

14.01

As Taught In

Fall 2007

Level

Undergraduate

Cite This Course

Course Features

Course Description

This introductory course teaches the fundamentals of microeconomics. Topics include consumer theory, producer theory, the behavior of firms, market equilibrium, monopoly, and the role of the government in the economy. 14.01 is a Humanities, Arts, and Social Sciences (HASS) elective and is offered both terms.

OCW Scholar Version

OCW Scholar courses are designed for self-paced study with no registration required. They are substantially more complete than typical OCW courses, blending new online content with material used in MIT classes.