In this tutorial, we cover ECN 131: Introduction to Microeconomics, one of the most important foundational courses for economics students.

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This lesson breaks down the core microeconomic principles you need to excel in both coursework and exams. We explore real-life examples, past exam trends, and simplified explanations to help you understand and apply economics with confidence.

What you’ll learn in this video:
1. The basic concepts of microeconomics – scarcity, choice, and opportunity cost
2. Demand and supply analysis with equilibrium determination
3. Elasticity of demand and supply and why it matters in real markets
4. Consumer theory – utility, indifference curves, and budget lines
5. Production theory – short run vs long run, costs of production
6. Market structures – perfect competition, monopoly, monopolistic competition, oligopoly
7. How to solve UNILAG ECN 131 exam-style questions step by step

This tutorial is designed for:
1. UNILAG economics students preparing for ECN 131 (2026 session)
2. Nigerian undergraduates looking for microeconomics exam prep
3. Anyone who wants to understand the basics of microeconomics in a clear, practical way

Course Code: ECN 131
University: University of Lagos (UNILAG)
Target: 100-level Economics & related departments

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This is the definitive UNILAG ECN 131 Microeconomics tutorial for 2026 — watch, practice, and pass with confidence.


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