Module overview
Microeconomics
Markets, prices, consumer choice, and government interventions.
1890Interactive model
Supply and Demand
Alfred Marshall
How competitive markets set prices and quantities — equilibrium, shifts of the curves, consumer and producer surplus, and what price ceilings and floors do to all of it.
marketsequilibriumap-microib-economics
5 exercisesOpen model
1881Interactive model
Exchange Economies
Francis Y. Edgeworth, Léon Walras
Two consumers, two goods, fixed endowments — and a price that makes everyone's optimisation add up. The Edgeworth box, the contract curve, and the welfare theorems.
general-equilibriumedgeworth-boxwalrasian-equilibriumwelfare-theoremspareto-efficiency
4 exercisesOpen model