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Microeconomics Principles

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Dr. José J. Vázquez-Cognet

Dr. José J. Vázquez-Cognet

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

Read more

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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What's inside

Syllabus

Course Orientation

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.

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what should give you pause

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Comprehensive study of principles of microeconomics

Examines the application of economic principles in various domains, including environment, love, marriage, crime, and sports

Explores the central concepts of economics, such as supply and demand, market efficiency, and elasticity

Imparts analytical skills to address economic questions and broader life issues

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Reviews summary

Microeconomics principles and real-world applications

According to learners, this course provides a strong foundation in microeconomic principles, successfully achieving its goal of showing how economics applies to a wide range of real-world situations beyond just money, including the environment, crime, and relationships. Many students find the instructor engaging and enthusiastic, making complex concepts understandable through clear explanations and relevant examples. While the course structure is logical, some learners found the quizzes and exams quite challenging, requiring a solid grasp of the material. Overall, it's considered a valuable course for gaining a new perspective on decision-making and resource allocation.

Covers fundamental microeconomic topics.

"Covers all the essential microeconomics topics needed for an introductory course."

"Good overview of supply, demand, elasticity, markets, and externalities."

"The syllabus flows well, building up concepts week by week."

"It provides a solid foundation if you're new to microeconomics."

Complex topics explained clearly.

"The explanations of supply and demand and elasticity were very clear and easy to grasp."

"I finally understood market failures thanks to the way it was explained here."

"Breakdown of production costs and competitive markets was easy to follow."

"Complex ideas were presented simply without losing depth."

Concepts tied to practical examples.

"Loved how they brought in examples about crime, environment, and even marriage. Made it very relevant."

"Using real-world scenarios like drug legalization and ticket pricing really solidified my understanding."

"The course successfully showed me that economics is indeed everywhere."

"I appreciate the diverse examples used, it helped me see the concepts outside traditional business contexts."

Professor's teaching style is engaging.

"The professor is very enthusiastic about the subject, which made the lectures engaging."

"I found the instructor's energy and clear way of explaining things really helped me stay focused."

"Great professor, makes potentially dry topics interesting and easy to follow."

"His passion for economics is evident and truly infectious."

Quizzes and exams require deep understanding.

"The quizzes were trickier than I expected, really had to think about the application."

"Found the exams quite challenging, had to go back and review material multiple times."

"Some questions on the tests seemed designed to test nuances that weren't explicitly covered in depth."

"Be prepared for quizzes that make you apply, not just recall, concepts."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Microeconomics Principles with these activities:

Review: The Armchair Economist

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This book provides a clear and engaging introduction to microeconomic principles, making it an excellent resource for reinforcing your understanding of the course material.

View The People Paradox on Amazon

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Read the book
Take notes on the key concepts
Complete the discussion questions at the end of each chapter

Organize Your Notes

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Organizing your notes will help you better retain the information you learn and make it easier to study for exams.

Browse courses on Microeconomics

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Create a file or folder for your notes
Organize your notes by topic
Highlight key concepts

Khan Academy Microeconomics

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The Khan Academy offers a comprehensive set of microeconomics tutorials that can supplement your learning.

Browse courses on Microeconomics

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Create an account on Khan Academy
Enroll in the Microeconomics course
Complete the video tutorials and practice exercises

Five other activities

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Show all eight activities

Connect with an Economics Professor

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Connecting with an economics professor can provide you with additional support and guidance throughout the course.

Browse courses on Microeconomics

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Attend office hours
Ask questions during class
Set up a meeting to discuss your progress

Economics Explained Video

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Creating a video that explains a microeconomic concept will help you solidify your understanding and improve your communication skills.

Browse courses on Microeconomics

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Choose a topic
Write a script
Record and edit your video
Share your video online

Microeconomics Practice Problems

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Solving practice problems will help you improve your problem-solving skills and reinforce your understanding of the course material.

Browse courses on Microeconomics

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Find a set of practice problems
Attempt to solve the problems
Check your answers and learn from your mistakes

Attend an Economics Workshop

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Attending an economics workshop can provide you with exposure to cutting-edge research and new perspectives on the field.

Browse courses on Microeconomics

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Find an economics workshop that interests you
Register for the workshop
Attend the workshop and participate in the discussions

Tutor a Classmate

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Tutoring a classmate will help you reinforce your understanding of the material while also helping others learn.

Browse courses on Microeconomics

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Find a classmate who needs help with the course material
Set up regular tutoring sessions
Review the material with your classmate and answer their questions

Career center

Learners who complete Microeconomics Principles will develop knowledge and skills that may be useful to these careers:

Economist

Economists use economic theory and data to analyze a wide range of economic issues, including inflation, unemployment, and the impact of government policies. This course would provide you with a strong foundation in economic principles, which would be useful for a career in economics. The course would also help you develop analytical and problem-solving skills that are essential for success in this field.

See salaries and explore the career path for Economist

Financial Analyst

Financial analysts provide investment advice to individuals and institutions. This course would help you develop the analytical skills necessary to evaluate companies and make investment decisions. The course would also provide you with a strong understanding of the financial markets, which is essential for success in this field.

See salaries and explore the career path for Financial Analyst

Market Research Analyst

Market research analysts collect and analyze data to understand consumer behavior and market trends. This course would provide you with the skills necessary to design and conduct market research studies. The course would also help you develop the analytical skills necessary to interpret and communicate research findings, which are essential for success in this field.

See salaries and explore the career path for Market Research Analyst

Business Analyst

Business analysts use data to analyze business processes and identify areas for improvement. This course would provide you with the skills necessary to collect and analyze data, and to develop and implement recommendations for improvement. The course would also help you develop the communication skills necessary to effectively communicate your findings to stakeholders, which are essential for success in this field.

See salaries and explore the career path for Business Analyst

Consultant

Consultants provide advice to businesses and organizations on a wide range of issues, including strategy, operations, and marketing. This course would provide you with a strong foundation in economic principles, which would be useful for a career in consulting. The course would also help you develop the analytical and problem-solving skills that are essential for success in this field.

See salaries and explore the career path for Consultant

Policy Analyst

Policy analysts develop and analyze policies for governments and other organizations. This course would provide you with a strong understanding of economic principles, which would be useful for a career in policy analysis. The course would also help you develop the analytical and communication skills that are essential for success in this field.

See salaries and explore the career path for Policy Analyst

Journalist

Journalists write and report on news and current events. This course would provide you with a strong understanding of economic principles, which would be useful for a career in journalism. The course would also help you develop the research and writing skills that are essential for success in this field.

See salaries and explore the career path for Journalist

Teacher

Teachers educate students at all levels, from kindergarten through college. This course would provide you with a strong foundation in economic principles, which would be useful for a career in teaching. The course would also help you develop the communication and interpersonal skills that are essential for success in this field.

See salaries and explore the career path for Teacher

Lawyer

Lawyers represent clients in court and provide legal advice. This course would provide you with a strong understanding of economic principles, which would be useful for a career in law. The course would also help you develop the analytical and communication skills that are essential for success in this field.

See salaries and explore the career path for Lawyer

Doctor

Doctors diagnose and treat illnesses and diseases. This course would provide you with a strong understanding of economic principles, which would be useful for a career in medicine. The course would also help you develop the analytical and problem-solving skills that are essential for success in this field.

See salaries and explore the career path for Doctor

Engineer

Engineers design and build structures, machines, and systems. This course would provide you with a strong understanding of economic principles, which would be useful for a career in engineering. The course would also help you develop the analytical and problem-solving skills that are essential for success in this field.

See salaries and explore the career path for Engineer

Scientist

Scientists conduct research to understand the natural world. This course would provide you with a strong understanding of economic principles, which would be useful for a career in science. The course would also help you develop the analytical and problem-solving skills that are essential for success in this field.

See salaries and explore the career path for Scientist

Reading list

We've selected seven books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Microeconomics Principles.

Cover image

Cover image

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Standard textbook for microeconomics courses. It provides a comprehensive overview of the subject, covering topics such as supply and demand, market equilibrium, consumer behavior, and firm behavior.

Principles of Microeconomics

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Is another popular textbook for microeconomics courses. It is written in a clear and concise style, and it provides a good balance of theory and applications.

Principles of Microeconomics

Principles of Microeconomics

Cover image

Cover image

Macroeconomics, Global Edition

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Provides a survey of the microeconomic foundations of economic growth. It good choice for students who want to learn how to use microeconomic principles to analyze economic growth issues.

Macroeconomics, Global Edition

Macroeconomics, Global Edition

Cover image

Cover image

Intermediate Microeconomics and Its Application

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More advanced textbook for microeconomics courses. It provides a rigorous treatment of the subject, and it good choice for students who want to learn more about the mathematical foundations of microeconomics.

Intermediate Microeconomics and Its Application...

Intermediate Microeconomics and Its Application

Intermediate Microeconomics and Its Application...

Intermediate Microeconomics and Its Application

Intermediate Microeconomics and Its Application,...

Intermediate Microeconomics and Its Application

Intermediate Microeconomics and Its Application

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Provides a modern approach to microeconomics. It good choice for students who want to learn about the latest developments in microeconomic theory.

Cover image

Cover image

Economic Logic Fourth Edition

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Provides a non-technical introduction to microeconomics. It good choice for students who want to learn about the basics of microeconomics without getting bogged down in the details.

Economic Logic Fourth Edition by Mark Skousen (2013...

Cover image

Cover image

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Provides a very short introduction to microeconomics. It good choice for students who want to learn the basics of microeconomics in a short amount of time.

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Effort

Approx. 8 hours

Level

Introductory

Via

Coursera

Institution

University of Illinois at Urbana-Champaign

Instructor

Dr. José J. Vázquez-Cognet

Language

English

Transcripts

Español Français Português Deutsch Italiano 中文 العربية 한국어 日本語 हिंदी Nederlands Svenska Pусский Türkçe Polski Ελληνικά українська мова magyar nyelv Bahasa Indonesia ไทย қазақша اُردُو, فارسی বাংলা tiếng Việt پښتو آذربایجان دیلی

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Comprehensive study of principles of microeconomics

Examines the application of economic principles in various domains, including environment, love, marriage, crime, and sports

Explores the central concepts of economics, such as supply and demand, market efficiency, and elasticity

Imparts analytical skills to address economic questions and broader life issues

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