Where does a buyer's demand curve come from? A rational buyer wants to get as much "bang per buck" from their consumption as possible. In economics, that's called marginal utility per dollar spent. When the price of a good decreases, the "bang per buck" on that good increases, which incentivizes consuming more of it. In this video, we derive the individual's demand curve for a good by tweaking the marginal utility per dollar spent. Created by Sal Khan.

Walk through the logic of determining what kind of good has the most elastic demand in this video.

There are several factors that affect how elastic (or inelastic) the price elasticity of demand is, such as the availability of substitutes, the timeframe, the share of income, whether a good is a luxury vs. a necessity, and how narrowly the market is defined. We explore each of these in this video.

This textbook presents core concepts common to introductory courses. The 15 units cover the traditional areas of intro-to-psychology; ranging from biological aspects of psychology to psychological disorders to social psychology. This book can be modified: feel free to add or remove modules to better suit your specific needs.

This book includes a comprehensive instructor's manual, PowerPoint presentations, a test bank, reading anticipation guides, and adaptive student quizzes.

Series of interactive learning activities for Anatomy and Physiology for most body systems. Page is updated regularly with new activities.

This course introduces the theory of relative prices in a market system, consumer choice, marginal analysis, and the allocation of productive resources among alternative uses in a market economy. Other topics may include market power and price discrimination, public finance, the labor market and environmental policy.

Course Outcomes:
1. Discuss the role scarcity plays in defining economic choices and how individuals, companies and nations resolve these issues.
2. Describe and apply marginal principle, principle of opportunity cost, principle of diminishing returns, comparative advantage, and elasticity.
3. Analyze the relationships between production costs and cost curves.
4. Explain the mechanics of supply and demand and apply the supply and demand model to evaluate markets.
5. Discuss the efficiency and equity of both competitive and noncompetitive markets and how both are impacted by government intervention.
6. Explain, compare and contrast, and apply in context each of the basic market structures - i.e. perfect competition, monopoly, oligopoly and monopolistic competition.

This is the full course material for a Principles of Macroeconomics Course. It includes study notes, lecture notes, and video lectures.

Economists divide their discipline into two areas of study: microeconomics and macroeconomics. In this course, we introduce you to the principles of macroeconomics, the study of how a country's economy works, while trying to discern among good, better, and best choices for improving and maintaining a nation's standard of living and level of economic and societal well-being. Historical and contemporary perspectives on the role of government policy surround questions of who gains and loses within a small set of key interdependent players. These beneficiaries include households, consumers, savers, firm owners, investors, government officials, and global trading partners.
Consider how microeconomists and macroeconomists analyze price fluctuations. In microeconomics, we focus on how supply and demand determine prices in a given market. In macroeconomics, we focus on changes in the price level across all markets. Microeconomics studies firm profit maximization, output optimization, consumer utility maximization, and consumption optimization. Macroeconomics studies economic growth, price stability, and full employment.

Macroeconomic performance relies on measures of economic activity, such as variables and data at the national level, within a specific period of time. Macroeconomics analyzes aggregate measures, such as national income, national output, unemployment and inflation rates, and business cycle fluctuations. In this course, we prompt you to think about the national and global issues we face, consider competing views, and draw conclusions from various perspectives, tools, and alternatives.

Test and Question Bank for OpenStax Course ECON.2312 Microeconomics in Word and TestGen format.

This OER packet contains the course materials for ENGL 1301 - English Composition I . In academic settings, the reasons for writing fulfill four main purposes: to summarize, to analyze, to synthesize, and to evaluate. You will encounter these four purposes not only as you read for your classes but also as you read for work or pleasure. Because reading and writing work together, your writing skills will improve as you read. Eventually, your instructors will ask you to complete assignments specifically designed to meet one of the four purposes. As you will see, the purpose for writing will guide you through each part of the paper, helping you make decisions about content and style. For now, identifying these purposes by reading paragraphs will prepare you to write individual paragraphs and to build longer assignments.

15.010 is the Sloan School's core subject in microeconomics, with sections for non-Sloan students labeled 15.011. Our objective is to give you a working knowledge of the analytical tools that bear most directly on the economic decisions firms must regularly make. We will emphasize market structure and industrial performance, including the strategic interaction of firms. We will examine the behavior of individual markets--and the producers and consumers that sell and buy in those markets--in some detail, focusing on cost analysis, the determinants of market demand, pricing strategy, market power, and the implications of government regulatory policies. We will also examine the implications of economics on other business practices, such as incentive plans, auctions, and transfer pricing.

Economic models are a way of taking complicated ideas and events and breaking them down into their most important characteristics. We use models in economics so that we can focus our attention on a few things instead of getting bogged down a lot of details. In this video, learn more about the role that models play in economics, and the importance of the assumptions that underlie those models.

Learn about how to represent a monopoly market graphically in this video. Topics covered include the profit-maximizing quantity, pricing decisions, and deadweight loss associated with monopolies.

An important skill in microeconomics is the ability to find a firm's profit. Learn more about how to use a graph to identify the profit-maximizing quantity for a firm in a perfectly competitive market, and identify the area that represents the firm's profit or loss.

Accounting profit is what many people tend to think of when they think profit, but an economist would say that you leave something very important out when you do so: opportunity costs. In this video, explore the difference between a firm's accounting and economic profit. Created by Sal Khan.

Economies of scale exist when long run average total cost decreases as output increases, diseconomies of scale occur when long run average total cost increases as output increases, and constant returns to scale occur when costs do not change as output increases.

Why we calculate percent changes in a strange way when calculating elasticities. Created by Sal Khan.

This course blends Introductory Statistics from OpenStax with other OER to offer a first course in statistics intended for students majoring in fields other than mathematics and engineering. This course assumes students have been exposed to intermediate algebra, and it focuses on the applications of statistical knowledge rather than the theory behind it.The foundation of the OpenStax text is Collaborative Statistics, by Barbara Illowsky and Susan Dean. The development choices for this textbook were made with the guidance of many faculty members who are deeply involved in teaching this course. These choices led to innovations in art, terminology, and practical applications, all with a goal of increasing relevance and accessibility for students. We strove to make the discipline meaningful, so that students can draw from it a working knowledge that will enrich their future studies and help them make sense of the world around them.

This open course for Elementary Statistics was created through a Round Ten Textbook Transformation Grant:

https://oer.galileo.usg.edu/mathematics-collections/39/

The open course contains ancillary materials for OpenStax Introductory Statistics:

https://openstax.org/details/books/introductory-statistics

Included in the course are introductions to each lesson, lecture slides, videos, and problem questions. Topics include:

Types of Data
Sampling Techniques
Qualitative Data
Frequency Distributions
Descriptive Statistics
Variation and Position
Confidence Intervals
Hypothesis Testing
Chi-Square Goodness of Fit
Linear Regression
Variance ANOVA