Overview

Welcome to this Specialization focused on the principles of Microeconomics. This program is not merely about the study of money, but explores the functional roles of individual decision-makers, both consumers and producers, within the larger economic system. Across four comprehensive courses, we will provide an introduction to the nature and functions of product markets, the theory of the firm under various conditions of competition and monopoly, and the roles governments play in promoting the economy's efficiency. We will delve into fascinating subjects such as the environment, love and marriage, crime, labor markets, education, politics, sports, and business. This program is perfect for students, professionals interested in economics, or anyone aiming to make more informed financial decisions. The only prerequisites for this course are an open mind and a willingness to explore the fascinating world of economics from unique angles.

Syllabus

Course 1: Microeconomics Principles
Course 2: Market Equilibrium, Government Policy & Elasticity
Course 3: The Theory of the Firm
Course 4: Public Goods, Common Resources, and Externalities

Courses

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6 hours 6 minutes
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Most people make the incorrect assumption that economics is ONLY the study of money. My primary goal in this course is to shatter this belief. During this course, we will be addressing the above questions as well as many more relating to: -the environment -love and marriage -crime -labor markets -education -politics -sports -business My main goal is to show you the way economists think and how to use this analytical system to answer questions related not only to these and other important human issues but to anything you end up doing with your life after this class. After all, as you will quickly find out, I believe that everything is economics!
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3 hours 35 minutes
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In this course, we will discuss market failures. A market failure is a situation when the market does not do a good job of distributing resources among members of society. In fact, in all of these cases the market is the problem.
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8 hours 53 minutes
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In this course, we will begin covering the theory of the firm. Economists call this "The Economics of the Lemonade Stand." And that title makes perfect sense, since the concepts we cover can be used by anyone, from someone owning a lemonade stand, to a car manufacturing company, to a hair salon, to a burrito stand, etc. We will continue our discussion of the firm by focusing on those firms working in a perfectly competitive (or competitive) environment. Also, why is it that when you fly, the person sitting next to you in the plane probably paid a different price for the ticket than what you paid for it? And why does Starbucks charge so much for its coffee even though you can buy coffee at Dunkin’ Donuts for almost half of that price? We will finish our discussion of the firm by focusing on cases that should be more familiar to you than the perfect competition examples we have been using.