Microeconomics Principles from Coursera

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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.

Introduction and Basic Principles

Welcome to your first week in Microeconomics Principles! As you will quickly see, the things you learn in this class will probably help you see the world in a different way. Economics is not just about money, as you may have incorrectly assumed. On the contrary, as you will learn in this lesson, economics is about how society distributes scarce resources. And, since almost anything in the world is a scarce resource, from fossil fuels to suitable romantic partners, we can apply the rules of economics to pretty much anything.

Supply and Demand

Welcome to your second week in Microeconomics Principles! This module we will cover the hallmark framework of the field: the supply and demand model. I am sure that if you knew any economics words before enrolling in this course those two words were supply and demand. This module you will finally learn what all the fuss is about.

Market Efficiency and Government Policies

Welcome to Week 3! Last module we introduced the supply and demand model to explain how free markets work. One of the main concepts we learned about free markets was that they tend to gravitate toward an “equilibrium” price and quantity. This module we will use the same conceptual model to answer one important question: Are free markets the best way to distribute society’s resources?

Elasticities

Welcome to the fourth week! This module we will cover one of my favorite economics concepts: elasticity. It is one of my favorites because of how useful it is to analyze policy implications, as well as its usefulness for business managers. This will be obvious to you when you read one of the discussion topics for this module: Should we legalize marijuana?

Production and Costs

Welcome to your fifth week! This module we will begin covering the theory of the firm, which will take us basically three modules to finish. Economists call this section of the course, "The Economics of the Lemonade Stand." And that title makes perfect sense, since the concepts we cover can be used by anyone, from someone owning a lemonade stand, to a car manufacturing company, to a hair salon, to a burrito stand, etc.

Competitive Output

Welcome to your sixth week! This module we continue our discussion of the firm by focusing on those firms working in a perfectly competitive (or competitive) environment.

Firms with Market Power

So, why is it that when you fly the person sitting next to you in the plane probably paid a different price for the ticket than what you paid for it? And why does Starbucks charge so much for its coffee even though you can buy coffee at Dunkin’ Donuts for almost half of that price? This module we are finishing our discussion of the firm by focusing on cases that should be more familiar to you than the perfect competition examples we have been using.

Public Goods, Common Resources, and Externalities

And so we have arrived at the last week. This course has gone too fast! This module we will be discussing market failures. A market failure is a situation when the market does not do a good job of distributing resources among members of society. In fact, in all of these cases the market IS the problem.

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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

Reviews summary

Microeconomics for beginners

Learners say Microeconomics Principles is a great online learning experience for beginners. The engaging assignments and well designed videos are well suited to those new to the field of microeconomics. Students note that the course's biggest selling point is when Professor Vazquez applies microeconomic concepts to real businesses.

Suited to beginners in the field

"Well suited to a complete newcomer to the field"

Engaging videos and assignments

"engaging presenter and well designed videos."

"I like this style as well because each video can be focused on a specific topic or narrow range of topics."

Professor applies concepts to real businesses

"The biggest selling point for this course is when Prof. Vazquez goes out into the world and applies the concepts to real businesses. This includes a local farmer's market and a popular barbecue restaurant among others."

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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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.

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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.

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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.

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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.

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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

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

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

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.

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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

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

Microeconomics Principles

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Microeconomics for beginners

Activities

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