By taking this free microeconomics course, you’ll be exposed to the economic way of thinking. You’ll understand how to use economics in your life and, ultimately, see the world differently. Supply and demand, prices, the invisible hand, trade, monopoly, externalities, wages, public goods, asymmetric info, and more.
We’ll cover fundamental microeconomics concepts like supply and demand and equilibrium. We’ll also answer questions such as: How are prices determined? What did Adam Smith mean when he said the market process works like an “invisible hand”? How is it that we have access to fresh roses in very chilly cities every Valentine’s Day? We will cover all the key topics including competition, monopoly, price discrimination, externalities, public goods and more.
There are no prerequisites to this course and it is accessible to a beginner.
- Introduction
- Supply, Demand, and Equilibrium
- Elasticity and Its Applications
- Taxes and Subsidies
- The Price System
- Price Ceilings and Price Floors
- Trade
- Externalities
- Costs and Profit Maximization Under Competition
- Competition and the Invisible Hand
- Monopoly
- Price Discrimination
- Labor Markets
- Public Goods and the Tragedy of the Commons
- Asymmetric Information
- Consumer Choice
- Bonus Topics
