Learning outcomes of week 1

In this week you will learn:

  • demand and supply curves,
  • the market equilibrium,
  • how this equilibrium changes as curves shift,
  • the elasticity of demand.

The contents of this week are a derivative work of the course by Jonathan Gruber 14.01SC Principle of Microeconomics. Fall 2011. Massachusetts Institute of Technology: MIT OpenCourseWare. License: Creative Commons BY-NC-SA.