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Series: Economics: Other Market Models

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About this Series

  • Lessons: 14
  • Total Time: 2h 29m
  • Use: Watch Online & Download
  • Access Period: Unlimited
  • Created At: 12/08/2010
  • Last Updated At: 12/08/2010

The fourteen videos in this series look at alternative market models. The first five videos look at monopolies. A monopoly exists when one company has significant control over a specific market. The first lesson will give you an in-depth definintion of Monopoly Power and the unique economic effects of such a market structure. The second lesson will define the idea of marginal revenue for market power firms and use it to characterize the shape of the demand curve. The third lesson will show you how profit-maximizing output and pricing can be identitfied for a firm with monopoly power. The fourth lesson in the series will walk you through each step in the calculation of profit and loss for a monopoly firm. The fifth, and last lesson in the series, will teach you to graph the relationship between marginal revenue and elasticity.

The next three videos in this series will teach you about the social costs of monopoly conditions. The first will walk you through the determination of the social costs. Then, the next will cover the calculation of deadweight loss. The final one will cover monopoly regulation and the implications thereof.

The following three videos focus on oligopoly. The first looks at the notion of oligopoly in the context of a prisoner's dilemma. The next looks at cartel dynamics in the context of a prisoner's dilemma. The final video looks at the kinked-demand curve model.

The final three videos in the series focus on monopolistic competition. We'll start by defining and describing monopolistic competition. Next, we'll look at price and output in monopolistically competitive contexts. Last, we'll look at monopolistic competition as an example of a prisoner's dilemma.

Taught by Professor Tomlinson, this video series was selected from a broader, comprehensive course, Economics. This course and others are available from Thinkwell, Inc. The full course can be found at http://www.thinkwell.com/student/product/economics. The full course covers economic thinking, markets, consumer choice, household behavior, production, costs, perfect competition, market models, resource markets, market failures, market outcomes, macroeconomics, macroeconomic measurements, economic fluctuations, unemployment, inflation, the aggregate expenditures model, banking, spending, saving, investing, aggregate demand and aggregate supply model, monetary policy, fiscal policy, productivity and growth, and international examples.

Steven Tomlinson teaches economics at the Acton School of Business in Austin, Texas. He graduated with highest honors from the University of Oklahoma and earned a Ph.D. in economics at Stanford University. Prof. Tomlinson's academic awards include the prestigious Texas Excellence Teaching Award given by the University of Texas Alumni Association and being named "Outstanding Core Faculty in the MBA Program" several times. He has developed several instructional guides and computerized educational programs for economics.

About this Author

Thinkwell
Thinkwell
2174 lessons
Joined:
11/14/2008

Founded in 1997, Thinkwell has succeeded in creating "next-generation" textbooks that help students learn and teachers teach. Capitalizing on the power of new technology, Thinkwell products prepare students more effectively for their coursework than any printed textbook can. Thinkwell has assembled a group of talented industry professionals who have shaped the company into the leading provider of technology-based textbooks. For more information about Thinkwell, please visit www.thinkwell.com or visit Thinkwell's Video Lesson Store at http://thinkwell.mindbites.com/.

Thinkwell lessons feature a star-studded cast of outstanding university professors: Edward Burger (Pre-Algebra through...

Lessons Included

Nopic_orng
Oligopoly and the prisoners's dilemma
12/19/2012
~ bschulz

Excellent indepth explanation.

Below are the descriptions for each of the lessons included in the series:

Supplementary Files: