Rice University - Principles of Economics: Microeconomics - Down to Business
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Principles of Economics: Microeconomics - Down to Business at Coursera Overview
Duration | 13 hours |
Start from | Start Now |
Total fee | Free |
Mode of learning | Online |
Official Website | Explore Free Course  |
Credential | Certificate |
Principles of Economics: Microeconomics - Down to Business at Coursera Highlights
- Earn a certificate of completion
- Add to your LinkedIn profile
- 1 quiz, 32 assignments
Principles of Economics: Microeconomics - Down to Business at Coursera Course details
- In this second portion of the three-course specialization covering economics, we're going to be focusing on Microeconomics or the business side of things. This course is also based heavily on my ECON 100 course that I teach here at Rice University. Through lectures, short quizzes, problem sets, and discussions we're going to take a look at subjects such as, costs of production, perfect competition, monopolies, monopolistic competition, oligopolies, and household choices. And you'll still get all the unsolicited food and cooking advice sprinkled in there too :)
- Although this course is intended for anyone with an interest in economics, we will occasionally be using some basic math. I would also recommend that you take the first course, "A Story of Economics: Getting to Know You" before enrolling in this course.
- Things you should learn by the end of this course:
- 1. Identify how Opportunity Costs affect economic decisions.
- 2. Identify how economic decision makers compare marginal benefits to marginal
- 3. In a graph, identify the gains from trade.
- 4. Describe the relationship between prices, market demand and market supply.
- 5. Calculate and interpret the meaning of an elasticity coefficient.
- 6. Evaluate the effects of government policy on supply and demand.
- 7. Calculate and interpret the meaning of market efficiency.
- 8. Evaluate the effects of externalities and the policies associated with them, and
- 9. Identify the costs of production and interpret their shapes.
- 10. Communicate how different degrees of competition in a market affect pricing and
- 11. Identify the prisoner's dilemma in the context of an application.
- 12. Explain the interaction between budget constraints and indifference curves.
Principles of Economics: Microeconomics - Down to Business at Coursera Curriculum
Welcome to the Course!
Course Intro
Meet the Professor
Discussion Forum Philosophy
Course Book
Course Information and Keys to Success
Discussion Forum Guidelines
Accessibility and Accommodations Statement
Introduce Yourself
Module 1 - The Costs of Production
The Cost of Production
Types of Costs
Average and Marginal Cost
Problem Set Solution - Economic Profit Versus Accounting Profit
Problem Set Solution - Production Function and Costs
Problem Set Solution - Cost Curves for a Typical Firm
About Problem Sets
Quiz 1.1
Quiz 1.2
Quiz 1.3
Economic Profit Versus Accounting Profit
Production Function and Costs
Cost Curves for a Typical Firm
Implicit Costs
Module 2 - Perfect Competition
Perfect Competition
Profit for Competitive Firm
Short Run Supply Curves
Problem Set Solution - Competitive Firm Simple Profit Maximization Problem
Problem Set Solution - Producing With a Short Run Loss Versus Shutting Down
Problem Set Solution - Perfect Competition in the Long Run
Quiz 2.1
Quiz 2.2
Quiz 2.3
Competitive Firm Simple Profit Maximization Problem
Producing with a Short Run Loss vs Shutting Down
Perfect Competition in the Long Run
You Can't Spell "Economics" Without "Competition"
Module 3 - Monopoly
Monopoly
Why Monopolies Arise
A Monopoly's Revenue
Price Discrimination
Problem Set Solution - Profit Maximizing Monopoly
Problem Set Solution - Monopolist with a Single Price versus Price Discrimination
Quiz 3.1
Quiz 3.2
Quiz 3.3
Quiz 3.4
Profit Maximizing Monopoly
Monopolist with a Single Price versus Price Discrimination
Copyright and Patent Laws
Module 4 - Monopolistic Competition and Oligopoly
Monopolistic Competition
Oligopoly Pricing
Problem Set Solution - Monopolistic Competition
Problem Set Solution - Duopoly Market
Problem Set Solution - Oligopoly
Quiz 4.1
Quiz 4.2
Monopolistic Competition
Duopoly Market
Oligopoly
Competition and Big Tech
Module 5 - Household Choices
Household Choices
Consumer's Optimal Choice
Labor vs Leisure
Two Period Consumer Model
Problem Set Solution - Budget Constraints and Indifference Curves
Problem Set Solution - Labor Supply
Problem Set Solution - Interest Rates and Consumption in Two Period Model
Thinking Like an Economist
Congratulations! Well Done!
Final Exam
Quiz 5.1
Quiz 5.2
Quiz 5.3
Quiz 5.4
Budget Constraints and Indifference Curves
Real Labor Supply
Interest Rates and Consumption in Two Period Model
Getting Critical
Discussion Revisited
Money, Money, Money Must be Funny
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