Microeconomics: An Introduction

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Online

$ Price $800.00

Delivery type Live class

Capacity Unlimited

Level All levels

Duration 28 Hours

Lessons 5

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Overview

This course introduces you to the core concepts of microeconomics, including supply and demand, market structures, consumer behavior, and the role of government in regulating markets. You will learn how individual agents and firms make decisions and how these decisions create market outcomes. The course provides tools to analyze business strategy, consumer choices, and the effectiveness of government interventions.

Through practical applications and real-world examples, you will develop the ability to understand and predict economic behavior at the individual and firm level.

What You Will Learn

Explain fundamental microeconomic principles including scarcity, opportunity cost, and the concept of supply and demand equilibrium
Analyze price elasticity of demand and supply and apply elasticity concepts to market analysis
Understand consumer and producer behavior including utility theory, production functions, and profit maximization
Examine different market structures including perfect competition, monopolies, and oligopolies
Evaluate government interventions including price controls, taxes, subsidies, and regulations to correct market failures
Apply game theory and behavioral economics to understand strategic decision-making and psychological factors in economic choices

Course Curriculum

Module	What you cover
Introduction to Microeconomics	Defining microeconomics as the study of individual agents and markets. Basic economic concepts including scarcity, opportunity cost, and trade-offs. Supply and demand and understanding market equilibrium.
Elasticity and Market Efficiency	Price elasticity of demand and supply. The concept of elasticity and its application in market analysis. Market efficiency and the role of competition.
Consumer and Producer Behavior	Consumer theory including utility, preferences, and budget constraints. Producer theory including costs of production, profit maximization, and production functions. Market structures: perfect competition, monopolies, and oligopolies.
Government Intervention and Market Failures	The role of government in correcting market failures. Externalities, public goods, and the tragedy of the commons. Government intervention tools including price controls, taxes, and subsidies.
Advanced Topics in Microeconomics	Game theory and strategic decision-making. Behavioral economics and psychological factors affecting economic decisions. The economics of information and market signaling.