Lec 1: Introduction to Principles of Microeconomics and Supply & Demand

MIT 14.01 Principles of Microeconomics, Fall 2023
Instructor: Prof. Jonathan Gruber
View the complete course: ocw.mit.edu/courses/14-01-principles-of-microeconomics-spring-2023/
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Prof. Gruber introduces the class by explaining microeconomics as the study of individuals and firms who make themselves as well off as possible in a world full of scarcity. He then explains the core concepts of supply and demand. Keywords: microeconomics, scarcity, constrained optimization, supply and demand

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