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MIT 14.04 Intermediate Microeconomic Theory, Fall 2020
Instructor: Prof. Robert Townsend

Uploaded 31-08-22

View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/
YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2OOOKqF

How do profit maximizing firms decide on the level of employment, and on their input/output mix more generally? The problem is broken down into its component parts: feasible production technology, and the prices of inputs and outputs. Predictions are made for individual firms’ responses to domestic price changes with implications for profits. Surprisingly, the same constructs can be used for economy-wide responses to international tariffs, with implications for household welfare.

License: Creative Commons BY-NC-SA
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MIT 2.43 Advanced Thermodynamics, Spring 2024
Instructor: Gian Paolo Beretta

Uploaded 05-12-24

View the complete course: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/
Complete course table of contents with hyperlinks to slides and video timestamps: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_toc_slides_pdf/
Complete course analytical index with hyperlinks to slides and video timestamps: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_index_slides_pdf/
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP6309d0oJDiVo1CvxUQXJ2il

This lecture covers: Thermo-osmotic and mechano-caloric effects. Interdiffusion in a binary mixture, Maxwell-Stefan and Fick diffusion coefficients. Thermophoresis: Soret and Dufour effects. Multicomponent heat, mass, and charge transport.

Instructor suggests to set viewing speed at 1.5 for faster learning.

Slides for this lecture: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_lec25_pdf/

Key moments:

00:00:00 - Introduction
00:00:19 - Onsager Cross Effects and Curie Symmetry Principle
00:00:55 - Relation Between Independent Diffusive Fluxes
00:01:51 - Relative Diffusive Fluxes and Forces
00:04:43 - Cross Effects Between Vectorial Fluxes and Forces
00:12:34 - Thermoelectric Effects
00:13:06 - Second-Law Efficiency of Thermoelectric Generator
00:22:46 - Thermo-Osmosis of Pure Substances in Porous Media
00:29:39 - Interdiffusion of Two Constituents
00:38:38 - Thermodiffusion Effects. Thermophoresis
00:52:14 - Other Mechanisms for Molecular Transport in a Pore/Capillary
01:05:07 - Modeling Electrochemical Systems
01:08:47 - Nonequilibrium Beyond the Linear Regime
01:08:57 - More on Far-Nonequilibrium Models
01:17:00 - In 2024 Thermodynamics Turned 200 Years Old!
01:17:17 - Prigogine Prize for PhD Theses in Thermodynamics
01:19:03 - Thank You for Attending or Viewing These Lectures!

License: Creative Commons BY-NC-SA
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MIT 14.04 Intermediate Microeconomic Theory, Fall 2020
Instructor: Prof. Robert Townsend

Uploaded 31-08-22

View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/
YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2OOOKqF

What exactly are smart contracts? The theory of mechanism design and the protocols for validation of decentralized ledgers are compared. Trust means different things to different people. Yet economics and computer science can come together. The tools of incentive compatibility, encryption, platforms, and programmability are explained and featured in key applications.

License: Creative Commons BY-NC-SA
More information at https://ocw.mit.edu/terms
More courses at https://ocw.mit.edu
Support OCW at http://ow.ly/a1If50zVRlQ

We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.



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MIT 2.43 Advanced Thermodynamics, Spring 2024
Instructor: Gian Paolo Beretta

Uploaded 05-12-24

View the complete course: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/
Complete course table of contents with hyperlinks to slides and video timestamps: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_toc_slides_pdf/
Complete course analytical index with hyperlinks to slides and video timestamps: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_index_slides_pdf/
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP6309d0oJDiVo1CvxUQXJ2il

This lecture covers: Potential energy surface. Transitional state and activated complex. Affinity of a reaction. Nonequilibrium law of mass action for ideal and nonideal mixtures and solutions. Affinities vanish at chemical equilibrium. Complete chemical equilibrium.

Instructor suggests to set viewing speed at 1.5 for faster learning.

Slides for this lecture: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_lec19_pdf/

Key moments:

00:00:00 - Introduction
00:00:27 - Second Law and State Principle for Reacting System
00:01:47 - Hatsopoulos-Keenan Statement of the Second Law
00:06:20 - State Principle and Maximum Entropy Principle
00:09:20 - Review: Enthalpy of Formation and Bond Energies
00:10:45 - Collisions
00:13:19 - Potential Energy Surface and Activated Complex
00:23:32 - Forward and Backward Half-Reactions
00:28:57 - Extension of the Simple System Model: Assumptions
00:42:13 - Fundamental Relation for Chemical Equilibrium
00:46:53 - Necessary Condition for Chemical Equilibrium
00:47:08 - Non-Equilibrium Law of Mass Action
01:01:03 - Law of Mass Action in Terms of Activities
01:02:37 - Temperature Dependence of Equilibrium Constants
01:06:05 - Equilibrium Constants from Properties of Formation
01:16:10 - Dissociation and NOx Formation in Combustion
01:18:21 - Hydrocarbon Oxidation: Detailed Kinetic Mechanisms
01:23:05 - Chemical Equilibrium Using Lagrange Multipliers
01:28:37 - Complete Chemical Equilibrium

License: Creative Commons BY-NC-SA
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More courses at https://ocw.mit.edu
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MIT 14.04 Intermediate Microeconomic Theory, Fall 2020
Instructor: Prof. Robert Townsend

Uploaded 31-08-22

View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/
YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2OOOKqF

In the US, the China shock refers to increased imports from China of relatively low-priced manufactured goods. This has an impact that varies locally, namely on US manufacturers who produce the same goods and cannot complete. Documented also is the adverse impact on wage labor, due to layoffs. But there are surprises for outcomes and mitigating mechanisms, previously undocumented movements in state-level trade balances, current accounts, and remittance flows.

License: Creative Commons BY-NC-SA
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More courses at https://ocw.mit.edu
Support OCW at http://ow.ly/a1If50zVRlQ

We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.



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MIT 2.43 Advanced Thermodynamics, Spring 2024
Instructor: Gian Paolo Beretta

Uploaded 05-12-24

View the complete course: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/
Complete course table of contents with hyperlinks to slides and video timestamps: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_toc_slides_pdf/
Complete course analytical index with hyperlinks to slides and video timestamps: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_index_slides_pdf/
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP6309d0oJDiVo1CvxUQXJ2il

This lecture covers: Minimum work of partitioning small systems. Review of equilibrium properties of pure substances. Gibbs phase rule. Clausius-Clapeyron relation. Representation on p-T, u-v-s, h-s, p-v diagrams. The van der Waals model of metastable liquid and vapor states.

Instructor suggests to set viewing speed at 1.5 for faster learning.

Slides for this lecture: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_lec09_pdf/

Key moments:

00:00:00 - Introduction
00:00:09 - Results So Far Hold for Large and Small Systems
00:00:53 - Review: Microscopic and Mesoscopic vs Macroscopic
00:02:18 - Review: Rarefaction Effects Near Walls
00:04:06 - Review: Neglecting Effects of Partitions
00:04:24 - Review: Simple-System Model Limiting Assumptions
00:04:58 - Review: Simple-System Model Implies Euler Relation
00:07:19 - Review: Main Consequence of Euler Relation
00:08:20 - Small Systems: Specific Properties Dependences
00:11:50 - Small Systems: Minimum Work of Partitioning
00:18:21 - Basic Simple-System Models for Pure Substances
00:19:02 - Extensive Properties (Definition)
00:21:45 - Specific Properties (Definition)
00:24:20 - Intensive Properties and Intensive State
00:26:48 - Homogeneous vs Heterogeneous States; Phases
00:32:29 - Gibbs Phase Rule (Proof)
00:39:25 - Gibbs Phase Rule (for a Pure Substance)
00:47:27 - Fundamental Relation for a Pure Substance
00:49:23 - Ideal Incompressible Solid or Fluid Model
00:53:35 - Ideal Gas Model
01:04:28 - Two-Phase States of a Pure Substance
01:09:28 - Properties Liquid-Vapor States of a Pure Substance
01:14:10 - Graphical Representation of Fundamental Relation
01:17:35 - The u-s-v Fundamental Surface (Water)
01:19:04 - The Mollier h-s Diagram (Water)
01:19:50 - The $p$-$v$ Diagram (Water)
01:20:47 - The $p$-$v$ Diagram (Van der Waals Model)
01:30:15 - Exergies and Efficiencies in Energy Conversion
01:30:38 - Exergy and Second-Law Efficiency in Cogeneration
01:31:04 - Exergy of Bulk Flow Interactions

License: Creative Commons BY-NC-SA
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More courses at https://ocw.mit.edu
Support OCW at http://ow.ly/a1If50zVRlQ

We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.



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MIT 14.04 Intermediate Microeconomic Theory, Fall 2020
Instructor: Prof. Robert Townsend

Uploaded 31-08-22

View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/
YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2OOOKqF

Finance accounts and management tools are keys to understanding village economies and to helping individual households and small businesses. Likewise, distributed ledgers and crypto currencies are keys to decentralized finance (DeFi), and are tools to improve contemporary financial systems. Remarkably, both of these two strands have the same, common root.

License: Creative Commons BY-NC-SA
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More courses at https://ocw.mit.edu
Support OCW at http://ow.ly/a1If50zVRlQ

We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.



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MIT 2.43 Advanced Thermodynamics, Spring 2024
Instructor: Gian Paolo Beretta

Uploaded 05-12-24

View the complete course: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/
Complete course table of contents with hyperlinks to slides and video timestamps: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_toc_slides_pdf/
Complete course analytical index with hyperlinks to slides and video timestamps: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_index_slides_pdf/
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP6309d0oJDiVo1CvxUQXJ2il

This lecture covers: Definitions of system, property, state, dynamical law, process, weight process. Statement of the First Law. Definition of energy. Energy balance. Definitions of steady, unsteady, nonequilibrium, and stable, unstable and metastable equilibrium states.

Instructor suggests to set viewing speed at 1.5 for faster learning.

Slides for this lecture: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_lec01_pdf/

Key moments:

00:00:00 - Introduction
00:01:11 - In 2024 Thermodynamics Turns 200 Years Old!
00:01:51 - Some Pioneers of Thermodynamics
00:03:11 - Reference Books by Members of the “Keenan School”
00:06:21 - Course Outline - Part I
00:11:01 - Course Outline - Part II
00:11:22 - Course Outline - Part III
00:12:11 - Course Outline - Grading Policy
00:15:52 - Begin Review of Basic Concepts and Definitions
00:18:32 - The Loaded Meaning of the Word System
00:28:12 - The Loaded Meaning of the Word Property
00:33:11 - What Exactly Do We Mean by the Word State?
00:46:41 - General Laws of Time Evolution
00:53:11 - Time Evolution, Interactions, Process
00:55:01 - Definition of Weight Process
01:06:01 - Statement of the First Law of Thermodynamics
01:08:51 - Main Consequence of the First Law: Energy
01:11:21 - Additivity and Conservation of Energy
01:15:11 - Exchangeability of Energy via Interactions
01:20:11 - Energy Balance Equation
01:24:11 - States: Steady/Unsteady/Equilibrium/Nonequilibrium
01:28:41 - Equilibrium States: Unstable/Metastable/Stable
01:36:31 - Hatsopoulos-Keenan Statement of the Second Law

License: Creative Commons BY-NC-SA
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More courses at https://ocw.mit.edu
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We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.



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MIT 14.04 Intermediate Microeconomic Theory, Fall 2020
Instructor: Prof. Robert Townsend

Uploaded 31-08-22

View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/
YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2OOOKqF

Micro and macro are often presented as two separate subfields of economics. When can they be reconciled with each other so that we can utilize the tools from both for economic science and to make statements about the welfare impacts of policy changes. When in the data might macro approximations be valid, and what are the indicators of micro foundations that must be made explicit and incorporated?

License: Creative Commons BY-NC-SA
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More courses at https://ocw.mit.edu
Support OCW at http://ow.ly/a1If50zVRlQ

We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.



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MIT 2.43 Advanced Thermodynamics, Spring 2024
Instructor: Gian Paolo Beretta

Uploaded 05-12-24

View the complete course: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/
Complete course table of contents with hyperlinks to slides and video timestamps: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_toc_slides_pdf/
Complete course analytical index with hyperlinks to slides and video timestamps: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_index_slides_pdf/
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP6309d0oJDiVo1CvxUQXJ2il

This lecture covers: Reversible process. Statement of the Second Law. Adiabatic availability. Mutual equilibrium. Temperature of a thermal reservoir. Definition of entropy. Entropy balance. Available energy. Maximum entropy principle. Fundamental stable equilibrium relation.

Instructor suggests to set viewing speed at 1.5 for faster learning.

Slides for this lecture: https://ocw.mit.edu/courses/2-43-advanced-thermodynamics-spring-2024/resources/mit2_43_s24_lec02_pdf/

Key moments:

00:00:00 - Introduction
00:00:22 - Review: Course Objectives: Part I
00:00:42 - The Loaded Meaning of the Word System
00:01:56 - The Loaded Meaning of the Word Property
00:02:24 - What Exactly Do We Mean by the Word State?
00:02:44 - General Laws of Time Evolution
00:03:54 - Time Evolution, Interactions, Process
00:04:20 - Definition of Weight Process
00:04:40 - Main Consequence of the First Law: Energy
00:05:54 - Energy Balance Equation
00:07:01 - States: Steady/Unsteady/Equilibrium/Nonequilibrium
00:07:24 - Equilibrium States: Unstable/Metastable/Stable
00:08:16 - Hatsopoulos-Keenan Statement of the Second Law
00:09:44 - Consequences of First and Second Law together
00:10:45 - Theorem: Kelvin-Planck Statement of the Second Law
00:16:20 - Proof of the Kelvin-Planck Statement
00:18:39 - What Exactly Do We Mean by Reversible Process?
00:22:40 - Second Part of the Statement of the Second Law
00:24:03 - Definition of Adiabatic Availability
00:30:25 - Criterion for Reversibility of a Weight Process
00:34:23 - Mutual Equilibrium and Thermal Reservoir
00:41:05 - Feasibility of Standard Reversible Weight Process
00:47:30 - Definition of Temperature of a Thermal Reservoir
00:54:49 - Definition of Property Entropy
00:57:32 - Available Energy w.r.to a Thermal Reservoir
01:04:14 - Entropy: Engineering Meaning and Additivity
01:07:16 - Entropy Cannot Decrease in a Weight Process
01:07:38 - Criteria for Reversibility of a Weight Process
01:10:08 - Exchangeability of Entropy via Interactions
01:11:34 - Entropy Balance Equation
01:17:33 - Maximum Entropy and Minimum Energy Principles
01:25:14 - State Principle and Fundamental Relation
01:36:53 - Partial Derivatives of the Fundamental Relation

License: Creative Commons BY-NC-SA
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More courses at https://ocw.mit.edu
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We encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.



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