Intermediate Microeconomics II – Free Basic Video Playlist
Intermediate Microeconomics II builds on the foundations of basic microeconomics and explores general equilibrium, welfare economics, game theory, market structures, and asymmetric information.
These topics are crucial for Indian Economic Services (IES), UPSC Economics Optional, and advanced university-level economics courses.
This playlist covers each topic step-by-step with diagrams, proofs, and numerical examples to make concepts easier to understand and revise.
📌 General Equilibrium & Welfare Economics
- Basics of Edgeworth Box Diagram – Net Buyer, Net Seller, Feasible Allocation
- Meaning of Pareto Efficient Allocation
- Examples of Pareto Efficiency – Cobb Douglas, Cobb Douglas-Min
- Competitive Equilibrium Condition – MRS1 = MRS2 = Price Ratio
- Walras Law – Value of Aggregate Excess Demand = 0 (Part 1)
- Competitive Equilibrium – Price and Allocation (Numerical)
- Walras Law – Another Proof (Part 2)
- First Welfare Theorem – Market Equilibria are Pareto Efficient
- First Welfare Theorem – Monopoly Case
- Perfectly Discriminating Monopolist – Welfare Theorem Application
- Second Welfare Theorem – Convex vs Non-Convex Preferences
- Aggregation of Preferences and Majority Voting Method
- Rank Order Voting, Condorcet Paradox, Borda Count
- Arrow’s Impossibility Theorem – Meaning (Part 1)
- Arrow’s Impossibility Theorem (Part 2)
- Types of Social Welfare Functions – Benthamite, Rawlsian, Nietzschian
- Utility Possibility Frontier & Iso-Welfare Curves
- Pareto Optimal Allocations and Social Welfare Maximization
📌 Game Theory Basics
📌 Market Structures | Perfect Competition
- Features & Demand Curve of a Firm
- Profit Maximizing Condition – P = MC
- P = MC is NOT Sufficient – Shut Down Point
- Producer Surplus = Profits + Fixed Costs
- Supply Function & Producer Surplus (Numerical)
- Marginal Revenue and Elasticity
- Profit Maximization – Cobb Douglas Example
- Value of Marginal Product (VMP = Wage) – Short Run
- Isoprofit Lines and Comparative Statics
📌 Market Structures | Monopoly
📌 Market Structures | Oligopoly |
Market Structures | Part 4 | Perfect Competition |Producer Surplus = Profits plus Fixed Costs | 27 |
Market Structures | Part 5 | Perfect Competition| Numericals| Supply Function | Producer Surplus|28|
Market Structures | Monopoly | Part 4 |Deadweight loss of Monopoly | Inefficiency of a Monopoly |36|
Suggested Textbooks
These videos complement advanced theory and should be used alongside these textbooks:
Microeconomic Theory – Hal Varian
Intermediate Microeconomics – Nicholson & Snyder
Microeconomics – Koutsoyiannis
Take the Next Step Towards IES Success
These free videos give you a strong foundation in advanced microeconomics.
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