MIT 14.01: Principles of Microeconomics
14.01 is MIT's introductory microeconomics course: supply and demand, consumer and producer theory, market structures, and welfare economics, taught with more mathematical directness than most intro courses. Its OCW versions, with full lectures and exams, are among the most-used free economics courses in the world.
Fennie is independent and not affiliated with MIT. This is an unofficial study guide.
What makes it hard
MIT teaches intro micro with calculus where many schools stay graphical, so derivatives and optimization appear from the early weeks. The exams are quantitative problem-solving (derive the demand curve, compute the deadweight loss), and students who studied the intuition without the machinery find points evaporating on setups.
What you'll cover
- • Supply, demand, and elasticity
- • Consumer theory and utility maximization
- • Producer theory and costs
- • Competitive markets and welfare
- • Monopoly and oligopoly
- • Externalities and public goods
The 14.01 study guide
How to study for MIT 14.01, step by step.
- 1
Bring calculus to the economics from week one
14.01 derives what other intro courses draw. Practice taking derivatives of utility and cost functions early so the optimization machinery never blocks the economic idea.
- 2
Pair every graph with its algebra
For each diagram (surplus, tax incidence, monopoly markup), work the same result numerically. Exams move freely between representations and reward students who do too.
- 3
Drill the standard computations to fluency
Elasticities, equilibrium solving, deadweight loss areas: the recurring calculations should be automatic by each exam. Fluency there buys time for the genuinely novel parts.
- 4
Take the OCW exams timed, solutions after
14.01's OCW versions post exams with solutions. The honest sequence is a full timed attempt, then a line-by-line comparison. The setup errors you find are the highest-value discoveries.
Today
Today's 14.01 plan
What a Fennie Daily Plan looks like for 14.01. Yours is built from your own syllabus and adapts every day to your deadlines and progress.
First plan free, no card required. Fennie is independent and unaffiliated with your school.
FAQ
Is 14.01 hard?
It's more mathematical than most intro econ courses, with calculus-based optimization from early on, but the structure is predictable. Students fluent in the standard computations find exams fair.
Is 14.01 on OCW good for learning economics?
It's one of the most complete and most-recommended free economics courses available, with lectures, notes, psets, and exams with solutions. Expect more math than a typical principles course.
Do I need calculus for 14.01?
Yes. Derivatives and basic optimization are used routinely. 18.01-level fluency makes the course dramatically smoother.