14.01 Principles of Microeconomics

Fall 2007

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.)

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.

Recommended Citation

For any use or distribution of these materials, please cite as follows:

William Wheaton, Chia-Hui Chen, Rongzhu Ke, Monica Martinez-Bravo, Marco Migueis, Peter Schnabl, and Hongliang Zhang, course materials for 14.01 Principles of Microeconomics, Fall 2007. MIT OpenCourseWare (http://ocw.mit.edu/), Massachusetts Institute of Technology. Downloaded on [DD Month YYYY].

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Chia-Hui Chen
Prof. William Wheaton

Teaching Assistants:
Rongzhu Ke
Monica Martinez-Bravo
Marco Migueis
Peter Schnabl
Hongliang Zhang

Course Meeting Times

Format 1

Two sessions / week
1 hour / session

One session / week
1 hour / session

Format 2

Discussion sections:
Three sessions / week
1 hour / session