Part 1 · Chapters 1 to 4
Economic Choice, Demand, and Production
- 14 demonstrations
Choice Under Risk and Across Time
Price risk with a certainty equivalent and time with an Euler equation.
- 24 demonstrations
Consumer Choice, Demand, and Revealed Preference
Split a price change, value it in money, and decide at the margin.
- 34 demonstrations
Production Duality, Factor Demand, and Firm Optimization
Choose output at the margin and inputs at least cost.
- 44 demonstrations
Opportunity Cost, Specialization, Scale, Scope, and Technology
Count what a choice gives up, and let the size of the market decide how to produce.
Part 2 · Chapters 5 to 13
Equilibrium, Welfare, and Strategy
- 54 demonstrations
Market Clearing and General Equilibrium
Find where plans meet, and ask whether prices can get there.
- 64 demonstrations
Welfare Theorems, Efficiency, and the Second Best
Test changes against everyone's starting point, and count the distortions a policy leaves in place.
- 74 demonstrations
Social Welfare, Inequality, and Compensation
Make the value judgments explicit, then let the arithmetic rank the options.
- 84 demonstrations
Social Choice, Voting, and Impossibility
Count every pairwise contest before trusting a collective ranking.
- 94 demonstrations
Strategic Foundations and Equilibrium Concepts
Predict play by asking what each side would do against the other's best choice.
- 104 demonstrations
Dynamic and Sequential Games
Solve from the end, and test every threat at the moment it would be carried out.
- 114 demonstrations
Repeated Games, Cooperation, and Enforcement
Cooperation lasts when the future it protects is worth more than one defection.
- 124 demonstrations
Coordination, Conflict, Evolution, and Strategic Networks
When everyone's best move depends on the crowd, beliefs and network layout decide the outcome.
- 134 demonstrations
Bargaining, Coalitions, and Cooperative Value
Outside options, patience and marginal contributions decide who gets what.
Part 3 · Chapters 14 to 21
Behavioral and Experimental Economics
- 144 demonstrations
Heuristics, Anchors, and Biased Beliefs
Put the base rate, the anchor weight, the evidence weights and the compounding back in.
- 154 demonstrations
Choice Under Risk, Ambiguity, and Probability Weighting
Where expected utility breaks: certainty, losses, unknown odds and distorted weights.
- 164 demonstrations
Reference Dependence, Losses, Ownership, and Regret
Losses, regret, past spending and narrow frames move choices the payoffs alone do not.
- 174 demonstrations
Context, Framing, Salience, and Choice Architecture
The same options, presented differently, can produce different choices.
- 184 demonstrations
Time Inconsistency, Self-Control, and Projection
When the self who plans and the self who acts disagree.
- 194 demonstrations
Attention, Information Avoidance, and Bounded Rationality
Scarce attention decides what gets weighed, how long search runs and which signals are read.
- 204 demonstrations
Social Preferences, Fairness, Identity, and Reciprocity
Put envy, trust, gifts and matching into the payoffs and see the choices change.
- 214 demonstrations
Experimental Markets, Learning, and Preference Elicitation
What experience, institutions and elicitation methods do to measured behavior.
Part 4 · Chapters 22 to 31
Information, Contracts, Auctions, and Market Design
- 224 demonstrations
Adverse Selection, Lemons, Signaling, and Screening
When one side knows more, prices, credentials and menus decide who trades.
- 234 demonstrations
Information Acquisition, Disclosure, Persuasion, and Attention
What people learn depends on who designs, sends and pays for the information.
- 244 demonstrations
Moral Hazard and Principal-Agent Incentives
Pay for what you can see, and count the rent it leaves behind.
- 254 demonstrations
Multitask, Team, Career-Concern, and Robust Contracts
Incentives reach past the contract: to reputations, unmeasured tasks, noise and tomorrow's target.
- 264 demonstrations
Incomplete, Relational, and Dynamic Contracts
When courts cannot see the facts, audits, the future and ownership hold deals together.
- 274 demonstrations
Auction Formats, Values, and Revenue Equivalence
Who bids, what they know and how they pay decide what an auction earns.
- 284 demonstrations
Optimal Auctions, Multi-Unit Sales, and Package Bidding
Reserves, core prices, correlated bets and demand reduction in small numbers.
- 294 demonstrations
Mechanism Design, Revelation, and Implementation
Posted prices, weighted rules, scoring rules and VCG payments in small numbers.
- 304 demonstrations
Social Choice Mechanisms and Strategy-Proofness
Rules that make honest reporting safe, and what they cost.
- 314 demonstrations
Matching, Assignment, and Exchange Design
Timing, thickness and capacity decide which matches a market can find.
Part 5 · Chapters 32 to 42
Firms, Competition, Innovation, and Platforms
- 324 demonstrations
Market Structure, Competition, and Price Dispersion
How search, entry and contract terms shape prices when markets are not perfectly competitive.
- 334 demonstrations
Oligopoly: Cournot, Bertrand, Capacity, and Leadership
Quantities, mergers, collusion and commitment among a few rivals.
- 344 demonstrations
Monopoly Pricing, Product Design, Bundling, and Versioning
How a seller with market power shapes tariffs, menus and packages.
- 354 demonstrations
Entry, Scale, Contestability, and Strategic Deterrence
Market room, the cost of size, the pull of entry and the pull of attention.
- 364 demonstrations
Vertical Control, Foreclosure, Integration, and Hold-Up
Markups that stack, contracts that exclude, and the volume that justifies making.
- 374 demonstrations
Natural Monopoly, Regulation, and Public-Utility Pricing
Pricing capacity, testing for natural monopoly, spreading markups and capping prices.
- 384 demonstrations
Advertising, Differentiation, Quality, and Organizational Efficiency
Size the ad budget, pick the cheaper input mix, price status and sanctions, and find the quality distortion.
- 394 demonstrations
Innovation Incentives, Creative Destruction, and Patent Races
Count the entrants a prize attracts and see why incumbents and entrants value the same invention differently.
- 404 demonstrations
General-Purpose Technologies, Diffusion, Learning, and Complementary Assets
Trace adoption, find the binding stage, price parallel hardware and value research as an option.
- 414 demonstrations
Network Effects, Standards, Compatibility, and Tipping
Count who else is there before counting what a network is worth.
- 424 demonstrations
Platforms, Multi-Homing, Envelopment, and Digital Ecosystems
Price the reach only you deliver, and find the complement that binds.
Part 6 · Chapters 43 to 49
Finance and Asset Pricing
- 434 demonstrations
Risk, Return, Diversification, and Portfolio Choice
Price the risk that cannot be diversified, and diversify the risk that can.
- 444 demonstrations
Asset Pricing Models, Factors, and Empirical Puzzles
Test a return against the risk that should explain it.
- 454 demonstrations
Derivatives, Options, Insurance, and Contingent Claims
Price a claim by the cost of building its payoff.
- 464 demonstrations
Market Efficiency, Behavioral Finance, and Limits to Arbitrage
Prices absorb news, but noise, costs and funding decide how far mispricing can go.
- 474 demonstrations
Capital Structure, Payout, and Corporate Finance
Financing choices move value only through information, taxes, distress and the projects they allow.
- 484 demonstrations
Credit, Default, Debt Overhang, and Agency
Who gets the upside, who bears the downside, and what that does to lending.
- 494 demonstrations
Liquidity, Fire Sales, and Financial Fragility
When selling to raise cash lowers the value of what is left.
Part 7 · Chapters 50 to 59
Money, Macroeconomics, and the Open Economy
- 504 demonstrations
Money, Monetary Standards, Velocity, and Inflation
Follow money into prices, debts, cash habits and the issuer's revenue.
- 514 demonstrations
Banks, Monitoring, Lending, and Credit Creation
Why banks monitor, when owners stay safe, what relationships know and why deposits commit.
- 524 demonstrations
Bank Runs, Collateral Cycles, Crisis Backstops, and Sovereign Links
Trace how falling collateral, rising haircuts and self-fulfilling withdrawals turn stress into crisis.
- 534 demonstrations
Aggregate Demand, Consumption, Saving, and Fiscal Multipliers
How households smooth spending and how demand feeds back into income.
- 544 demonstrations
Inflation, Unemployment, Expectations, and Policy Rules
Expectations, rules and budgets decide what monetary policy can buy.
- 554 demonstrations
Business Cycles, Propagation, Hysteresis, and Stagnation
Trace how shocks turn into cycles, linger, and leave scars.
- 564 demonstrations
Comparative Advantage, Factor Endowments, and Distribution
Trace goods prices and endowments into wages, rents and outputs.
- 574 demonstrations
New Trade Theory, Firm Selection, Scale, and Geography
Scale, selection and distance explain trade between similar countries.
- 584 demonstrations
Trade Policy, Integration, Tariffs, and Welfare
Weigh tariffs, depreciations, trade agreements and arbitrage by their real gains and losses.
- 594 demonstrations
Exchange Rates, Capital Flows, Crises, and Open-Economy Policy
Trace exchange rates through interest parity, productivity and the trade balance.
Part 8 · Chapters 60 to 65
Growth, Development, and Economic History
- 604 demonstrations
Growth Accounting, Accumulation, and Convergence
Where capital deepening stops, which stock maximizes consumption, and what the residual holds.
- 614 demonstrations
Endogenous Growth, Ideas, Human Capital, and Innovation
Where growth comes from when ideas, quality steps and team skills drive it.
- 624 demonstrations
Structural Transformation, Dual Economies, and Migration
Composition, reallocation, relative costs and expected wages shape how economies move out of farming.
- 634 demonstrations
Demography, Poverty Traps, and Unified Growth
Family size, age structure and coordination can each hold income down or lift it.
- 644 demonstrations
Institutions, State Formation, and Long-Run Development
Commitment, credit and compounding behind long-run divergence.
- 654 demonstrations
Economic History, Trade, Technology, and Divergence
Price a machine, balance a land budget, test an enforcement chain and measure a counterfactual.
Part 9 · Chapters 66 to 83
Public Economics, Institutions, Law, Place, and Resources
- 664 demonstrations
Tax Incidence, Elasticity, Salience, and Revenue
Who pays a tax, how much it raises, and who should collect it.
- 674 demonstrations
Optimal Commodity, Income, and Capital Taxation
Where taxes do least harm: across goods, across people and across time.
- 684 demonstrations
Public Goods, Free Riding, Clubs, and Collective Funding
Add up shared benefits, fund them without free riding, and size the group that shares them.
- 694 demonstrations
Externalities, Pigouvian Correction, and Common-Pool Resources
Price the harm, limit the entry, and count the duplication.
- 704 demonstrations
Fiscal Federalism, Local Public Finance, and Tiebout Sorting
Match services to places, follow the movers, and price the package into houses.
- 714 demonstrations
Bureaucracy, Public Choice, and Budget Politics
Follow who gains, who pays, and who decides.
- 724 demonstrations
Redistribution, Social Insurance, Giving, and Patronage
Who gains from a transfer, who responds to it, and how its losses are weighed.
- 734 demonstrations
Property Rights, Transaction Costs, and the Coasean Framework
Rights, bargaining costs and governance decide who does what.
- 744 demonstrations
Contracts, Liability, Legal Rules, and Enforcement
Legal rules as prices on care, activity, breach and crime.
- 754 demonstrations
Institutional Persistence, Path Dependence, and Evolution
Why institutions spread, stick, and provoke resistance.
- 764 demonstrations
Commitment, Credibility, Sovereign Risk, and Conflict
A promise counts only if keeping it pays when the time comes.
- 774 demonstrations
Political Competition, Coalitions, and Redistribution
Elections, coalitions and survival shape what governments deliver.
- 784 demonstrations
Rent-Seeking, Regulation, Capture, and Jurisdictional Arbitrage
Price the political choice, then count which costs are real and which are transfers.
- 794 demonstrations
State Capacity, Extractive Institutions, and Development
Who decides, how long they expect to stay, and who keeps the gain.
- 804 demonstrations
Cities, Agglomeration, Spatial Equilibrium, and Regional Multipliers
Follow a local shock into wages, rents, gaps and jobs.
- 814 demonstrations
Land, Housing, Transport, Congestion, and Urban Form
Access, distance and land quality set what a site is worth.
- 824 demonstrations
Exhaustible Resources, Biodiversity, and Intergenerational Stewardship
Treat a resource or a species as an asset, and price the timing.
- 834 demonstrations
Pollution, Climate Policy, Leakage, and Regulatory Instruments
Where plants go, how emissions move with growth, and which instrument to use.
Part 10 · Chapters 84 to 99
Work, Households, Culture, Welfare, and Alternative Traditions
- 844 demonstrations
Labor Supply, Participation, and Household Insurance
Search costs, care hours, wage insurance and self-selection.
- 854 demonstrations
Search, Matching, Unemployment, and Wage Dynamics
Sorting, matching frictions, the Beveridge curve and employer power.
- 864 demonstrations
Workplace Incentives, Efficiency Wages, Tournaments, and Contracts
Rents, monitoring, deferred pay and prize spreads as incentive devices.
- 874 demonstrations
Human Capital, Technology, Signaling, and Discrimination
Skill premiums, training horizons, task change and statistical discrimination.
- 884 demonstrations
Households, Marriage, Fertility, and Intergenerational Transfers
Bargaining, specialization, security and gifts inside the family.
- 894 demonstrations
Norms, Identity, Social Interaction, and Multipliers
How other people's choices amplify, stall and reverse our own.
- 904 demonstrations
Networks, Trust, Enforcement, and Collective Behavior
What ties carry, what they enforce, and which ones get built.
- 914 demonstrations
Cultural Transmission, Persistence, and Economic Change
Habits, values and inherited traits as quantities that move.
- 924 demonstrations
Religion, Belonging, Human Capital, and Social Insurance
Participation as a choice about services, capital, time and insurance.
- 934 demonstrations
Agrarian Households, Food Demand, and Adaptation
Missing markets, land rent, share contracts and lagged supply on the farm.
- 944 demonstrations
Health Capital, Medical Uncertainty, and Provider Incentives
Screening, pooling, health as a stock and the price of a visit.
- 954 demonstrations
Insurance, Education, Poverty, and Targeting
Smoothing, screening, tagging and crowd-out in social programs.
- 964 demonstrations
Keynesian and Post-Keynesian Demand, Money, and Instability
Demand, distribution and profits in small accounting models.
- 974 demonstrations
Marxian, Sraffian, and Class-Based Distribution
Surplus, frontiers and prices of production in small value accounts.
- 984 demonstrations
Austrian, Institutional, and Evolutionary Political Economy
Discounting, discovery, dispersed costs and the path of new money.
- 994 demonstrations
Structuralist, Feminist, and Ecological Alternatives
External constraints, care time and material throughput.
Notebooks and skills on GitHub
Every chapter has a Jupyter notebook that reproduces its worked examples and figures, and a skill an AI assistant can use to apply the chapter's principles to your own numbers.