Principles of Microeconomics

A photo of a gas station with the price of gas displayed. A pickup truck hauling an ATV is in the background.

The price of commodities, such as gasoline, fluctuates due to supply and demand, a key concept in microeconomics.  (Image by Don Sniegowski on flickr. License: CC BY-NC-SA). 


MIT Course Number


As Taught In

Fall 2018



Cite This Course

Course Description

Course Features

Educator Features

Course Description

This introductory undergraduate course covers the fundamentals of microeconomics. Topics include supply and demand, market equilibrium, consumer theory, production and the behavior of firms, monopoly, oligopoly, welfare economics, public goods, and externalities. 

Chalk Radio Podcast

Prof. Jonathan Gruber was featured in an episode of OpenCourseWare's podcast, Chalk Radio. In the episode "Thinking Like an Economist," Prof. Gruber talks about how he engages students in 14.01 with accessible real world examples. Listen to the episode on Apple Podcasts.  

Other Versions

Related Content

Jonathan Gruber. 14.01 Principles of Microeconomics. Fall 2018. Massachusetts Institute of Technology: MIT OpenCourseWare, License: Creative Commons BY-NC-SA.

For more information about using these materials and the Creative Commons license, see our Terms of Use.