Jun 5th 2017

Microeconomics (edX)

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Use economic models to learn how prices and markets benefit society in the face of scarcity, and then apply those models to analyze policy. What is produced in an economy? How is it produced? Who gets the product? Microeconomics seeks to answer these fundamental questions about markets.

In this course, we’ll introduce you to microeconomic theory, together with some empirical results and policy implications. You’ll analyze mathematical models that describe the real-world behavior of consumers and firms, and you’ll see how prices make the world go ‘round.

You’ll join the ranks of business executives, policymakers, entrepreneurs, and global leaders who rely on the insights they derive from a working knowledge of microeconomics. Nobel memorial prize-winner Paul Samuelson invented the modern microeconomics curriculum at MIT. Now is your chance to learn the field from the intellectual tradition he began.

Topics include:

- Consumer theory

- Supply and demand

- Market equilibrium

- Producer theory

- Monopoly

- Oligopoly

- Capital markets

- Welfare economics

- Public goods

- Externalities

What you'll learn:

- Fundamentals of microeconomics

- Consumer theory and producer theory

- Techniques for constrained optimization

- Policy applications and empirical results