ECON 3001: Microeconomics

Unpack the primary subdivisions of economics: Microeconomics, centered on individual economic agents, and Macroeconomics, which looks at broader economic trends. Understand the core differences and inherent connections between these two fields. Explore real-world examples to comprehend their implications.

Unexpected inflation can shift wealth between lenders and borrowers. This phenomenon affects the real value of money repaid, disadvantaging the creditors. Additionally, businesses face operational expenses like menu costs during inflation adjustments.

This video explores urban utility curves, workforce dynamics, and the impact of creating new cities on growth and equilibrium, with a focus on the utility of workers.

Unravel the implications of a 5% money supply increase on the aggregate price level. Learn about the Federal Reserve's influence and the dynamics of demand, supply, and inflation. Grasp how changes in money supply can affect prices and economic balance.

Discover how to calculate the price level and velocity of money using real-life data. Understand the relationship between money supply, GDP, and prices in the economy. Gain insights into the Federal Reserve's strategies for managing inflation and price stability.

Grasp the distinction between nominal and real exchange rates, using the yen and dollar as examples. Learn how these rates influence purchasing power in different economies. Understand their implications in the global trade landscape.