An overview of introductory microeconomics. Learn the key principles of economics and how to apply them to the real world - and the AP® exam! Want to learn how individuals and businesses make the decisions that drive our economy - and use those skills to ace the Microeconomics AP® exam? This is the course for you!
This economics course is an introduction to basic microeconomic principles. You will learn how individuals make decisions ranging from what type of goods to buy to how many hours to work, and how firms make decisions ranging from how many workers to hire to what prices to charge. You will study how to evaluate economic outcomes from the perspective of efficiency and fairness, and discuss the proper role of the government in determining these outcomes.
This course will cover all material that is required for the Microeconomics AP® exam. It will cover this material through a mix of intuitive explanations, real-world applications, and graphical and mathematical supplements that explore the content in more depth. By the end of the course, not only will you have an understanding of the most important principles of microeconomics, but you’ll be able to use these principles to better understand the workings of the real world around you!
*Advanced Placement® and AP® are trademarks registered and/or owned by the College Board, which was not involved in the production of, and does not endorse, these offerings.
What you'll learn
- Consumer theory: How do consumers make decisions to maximize happiness?
- Producer theory: How do firms make decisions to maximize profit?
- Market structures: How does the structure of a market affect economic efficiency?
- Market failures: How do markets fail and what is the role of government to respond to these failures?
- Economic fairness: How do we strike the balance between economic efficiency and fairness?
Week 1: Welcome and Introduction (Units 1-2)
Supply and Demand
Week 2: Consumer Theory I (Units 3-6)
Week 3: Consumer Theory II (Units 7-8)
Income and Substitution Effects
Week 4: Producer Theory I (Units 9-12)
Intro to Production
Week 5: Producer Theory II (Units 13-16)
Short-Run Supply Curve
Long-Run Supply Curve
Week 6: Competitive Equilibrium and Welfare (Units 17-21)
Shifts in Supply and Demand
Competition and Maximizing Welfare
Taxes in Competitive Markets
Week 7: Other Market Structures I (Units 22-24)
Intro to Monopolies
Welfare Effects of Monopoly
Origins of Monopoly
Week 8: Other Market Structures II (Units 25-27)
Intro to Oligopolies
Week 9: Factor Markets (Units 28-32)
Modeling Preferences for Work
Labor Market Equilibrium
Week 10: International Trade (Units 33-35)
Intro to Trade
Productions Possibilities Frontier and Comparative Advantage
Learn how to forecast macroeconomic accounts and design an economic program for a case study country. In this macroeconomics course, you will improve your skills in macroeconomic policy analysis and learn to design an economic and financial program, using real economic data. The financial programming exercise simulates what IMF (International Monetary Fund) desk economists routinely do in their country surveillance and program work.
All goods and services are subject to scarcity at some level. Scarcity means that society must develop some allocation mechanism – rules to determine who gets what. Over recorded history, these allocation rules were usually command based – the king or the emperor would decide. In contemporary times, most countries have turned to market based allocation systems. In markets, prices act as rationing devices, encouraging or discouraging production and encouraging or discouraging consumption in such a way as to find an equilibrium allocation of resources.
We make economics decisions every day: what to buy, whether to work or play, what to study. We respond to markets all the time: prices influence our decisions, markets signal where to put effort, they direct firms to produce certain goods over others. Economics is all around us. This course is an introduction to the microeconomic theory of markets: why we have them, how they work, what they accomplish.
We live in a complex world with diverse people, firms, and governments whose behaviors aggregate to produce novel, unexpected phenomena. We see political uprisings, market crashes, and a never ending array of social trends. How do we make sense of it? Models. Evidence shows that people who think with models consistently outperform those who don't. And, moreover people who think with lots of models outperform people who use only one. Why do models make us better thinkers? Models help us to better organize information - to make sense of that fire hose or hairball of data (choose your metaphor) available on the Internet.
The majority of businesses say they want to become more global. And business leaders say that the lack of people with global intelligence is the key constraint holding them back. This course will address both gaps — at the business and the personal level, it will focus on practical strategies for dealing with the real consequences of globalization.
The course analyzes challenges faced by transition and emerging-market economies, i.e., those middle- and low-income countries, which have conducted market-oriented economic reforms and become integrated into the global economy since 1990s.
Самое сложное экономическое событие сводится, в конечном счёте, к действиям отдельных людей и фирм. Микроэкономика показывает, как можно эти действия анализировать – как люди выбирают, что потреблять, а фирмы – что производить.
L'ambition du cours est de confronter ses participants aux enjeux techniques, économiques, sociaux et environnementaux du XXIe siècle. Ces enjeux sont par nature très fortement couplés et complexes. Ils exigent une approche interdisciplinaire, afin d’adopter un vrai questionnement, au delà des préjugés et des idées reçues.
This course examines macroeconomic performance in the short run and the long run based on the economy’s institutional and policy environment. The first module develops a model of macroeconomy in the short run when the price level has its own momentum and does not respond much to supply and demand forces. The model enables one to see how GDP, interest rate, and exchange rate are determined in the short run and how they respond to macroeconomic shocks and policies.
This course discusses how macroeconomic variables affect individuals’ personal, professional, and public activities and lays the foundation for the analysis of the mechanisms that drive macroeconomic variables. It start in its first module by introducing the key macroeconomic variables and explaining how they are defined and measured in order to enable the students to interpret macroeconomic data properly.
MOOCs – Massive Open Online Courses – enable students around the world to take university courses online. This guide, by the instructors of edX’s most successful MOOC in 2013-2014, Principles of Written English (based on both enrollments and rate of completion), advises current and future students how to get the most out of their online study, covering areas such as what types of courses are offered and who offers them, what resources students need, how to register, how to work effectively with other students, how to interact with professors and staff, and how to handle assignments. This second edition offers a new chapter on how to stay motivated. This book is suitable for both native and non-native speakers of English, and is applicable to MOOC classes on any subject (and indeed, for just about any type of online study).