This is an archived course. A more recent version may be available at ocw.mit.edu.

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    SES # TOPICS KEY DATES

    1

    Overview of the Current U.S. Economy

    Supply and Demand

    		  

    2

    Supply and Demand (cont.) and Elasticity

    Problem set 1 due

    3

    Tutorial 1: Simple First Derivatives and Basic Calculus

    		  

    4

    Begin Utility Maximization and the Allocation of Scarce Resources - e.g. the Machinery Behind the Demand Curve

    		  

    5

    Utility Maximization (cont.)

    Individual Demand and Market Demand

    Problem set 2 due

    6

    The Cost of Medical Care - An Application of Demand/Supply and Utility Under Uncertainty

    		  

    7

    Technology, Costs and Returns to Scale

    		  

    8

    Technology, Costs and Returns to Scale (cont.)

    Problem set 3 due

    9

    Basic Logic of Profit Maximization

    Problem set 4 due
     

    First Midterm (covers through Session 8)

    		  

    10

    Profit Maximization in Competitive Markets

    		  

    11

    Profit Maximization in Competitive Markets (cont.)

    Problem set 5 due

    12

    Profit Maximization Under Monopoly

    		  

    13

    Oligopoly and Monopolistic Competition

    Problem set 6 due

    14

    A Taste of Simple Game Theory

    		  
     

    Second Midterm (covers through Session 12)

    		  

    15

    International Trade and Offshoring

    		  

    16

    Pulling it Together - Trade, Technology and the Labor Market

    Problem set 7 due

    17

    Course Wrap-up

    		  

    18

    Final Exam