Building Microeconomics Foundation Skills

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Tags: Microeconomics

Comprehensive Economics: Economic System, Market Structure, Supply & Demand, Pricing Strategies, Game Theory and History

Last updated 2022-01-10 | 3.7

- You will have a grasp on microeconomics
- Understand market structures
- Master basic pricing strategies

What you'll learn

You will have a grasp on microeconomics
Understand market structures
Master basic pricing strategies
Gain knowledge of supply/demand analysis
Boost confidence in making microeconomics decisions
Know microeconomics history in personalities

* Requirements

* An Internet connection and computer
* A curious mind for economics

Description

Mastering Microeconomics is an excellent source for exam, teaching or quiz preparation. Students could progress through all the material in section by section, or accomplish stages in which they require additional help.

This course provides cases from everyday life in each chapter, and multiple choice quizzes to better strengthen each student’s learning experience, regardless of proficiency.

This Microeconomics course is optimal for anyone engaged in building up a better interpretation of the economic world.

Economics is the subject of individual behavior and how people function in an economic environment. But further than that, it brings us a better grasp of global economics and the tensions between economic players.

Complete course with over 70+ lectures, the course provides for:

  • Basic Pricing Strategies: Cost-Plus, Competitive Based and Value Based;

  • Market Structure: Oligopoly, Monopoly, Perfect competition and Monopolistic Competition;

  • Economic Systems: Traditional, Market, Planned and Hybrid;

  • Supply & Demand: Law of Supply/Demand and Market Equilibrium;

  • Game Theory: Symmetric / Asymmetric / Zero / Non-Zero Sum Games,

  • Decision Making: Process, Ways to Improve;

  • Entrepreneurial Activity: Early Approaches and Digitized Ones;

  • Microeconomics History in Personalities.

In order to achieve goals in modern post-pandemic world, we should be curious, and have a solid comprehension of economic questions.

You can achieve more in your career if you will be able to resolve economic situations confidently.

Obviously you should start from the essentials in order to build your firm knowledge on microeconomics topics.

This course will help you on your way to success.

Who this course is for:

  • Undergraduate students requiring additional information or learning assistance
  • Part-time or distant learning students who have engaged in microeconomics studies
  • MBA or postgraduate students who desire additional support
  • This course is for MBA students, who want to strengthen their experience in microeconomics
  • This course is for anyone looking for microeconomics knowledge
  • This course is for economy curious people
  • This course is for students looking for additional material on economics

Course content

11 sections • 81 lectures

Microeconomics Introduction 8 lectures

Intro to Microeconomics Preview 01:13

  • Warm-up of microeconomics overview topic.

Microeconomics Theory Preview 02:01

  • Intro to microeconomics focus and theory

Utility Maximization Problem Preview 02:33

  • Introduction to utility maximization Problem.

Theory of Supply and Demand Preview 02:44

  • Theory of supply and demand;

  • Focus of mainstream microeconomics

  • Intro to demand for various commodities.

Consumer Demand Theory Preview 01:13

  • Overview of consumer demand theory.

Production Theory Preview 02:52

  • Cost of production overview;

  • Introduction to production theory;

  • Intro to mathematical model of production cost.

Opportunity Cost Preview 01:48

  • Introduction to topic of opportunity Cost.

  • Example on opportunity cost.

Main topics of Microeconomics Recap

Training on theme "Main topics of Microeconomics"

Basic Market Pricing Strategies 8 lectures

Intro to Market Pricing Strategies Preview 00:42

  • Market Pricing Strategies Introduction and Objectives.

Cost-plus Pricing I Preview 02:45

  • Basic Pricing Strategies;

  • Intro to Cost-Plus Pricing.

Cost-plus Pricing II Preview 02:38

  • Cost-plus Pricing Advantages;

  • Cost-plus Pricing Disadvantages;

  • Meaning of cost-plus pricing.

Competitive Pricing Preview 02:46

  • Competitive pricing strategy Overview;

  • Price competition between Sony and Sega;

  • Relative categories of competitive pricing;

  • Competitive pricing tactics.

Value Pricing Strategy Preview 05:04

  • Value based pricing strategy overview;

  • Value pricing tactics;

  • Price floors and ceilings.

Market Leaders Pricing Strategies Preview 03:29

  • Market leaders advantages;

  • Market leaders disadvantages;

  • Example on market challengers;

  • Smartphone market shipment analysis.

Market Followers Pricing Strategies Preview 04:01

  • Market followers pricing strategies and tactics;

  • Preparation for the quiz.

Basic Market Pricing Strategies Recap

Training on theme "Basic Market Pricing Strategies"

Market Structure 7 lectures

Intro to Market Structure Preview 02:24

  • Market structure introduction;

  • Types of market Structure.

  • Warm-up, objectives and quote.

Market Structure History Preview 01:50

  • Introduction to market structure history;

  • Adam Smith works;

  • Karl Marx findings.

Pure Competition Preview 03:08

  • Pure competition characteristics:

    • Standardized products;

    • Many sellers;

    • Easy entry and exit.

  • Pure competition market structure analysis.

Monopoly Structure Preview 02:58

  • Monopoly disadvantages;

  • Monopoly advantages;

  • Monopoly examples.

Monopolistic Competition Preview 03:19

  • Characteristics of Monopolistic Competition.

Market Structure: Oligopoly Preview 02:35

  • Oligopoly characteristics;

  • Recap of Oligopoly sub-types.

Market Structure Recap

Training on theme "Market Structure"

Economic Systems 8 lectures

Intro to Economic Systems Preview 00:52

  • Introduction and Objectives

Basic Economic Questions Preview 02:56

  • Economic Systems Overview;

  • Three Economic Invisible Forces;

  • Basic Economic Questions.

Economic Systems Components Preview 03:33

  • Economic Systems Components;

  • Economic Systems Broad Categories;

  • Basic Economic Questions.

Traditional Economy Preview 01:45

  • Intro to Traditional Economic System;

  • Answering Basic Economic Question in Traditional Economy.

Planned Economy Preview 03:02

  • Centrally Planned Economic System.

Capitalist Economy Structure Preview 03:28

  • Market Economy System;

  • Characteristics of Market Economy;

  • Differences between Capitalism and Socialism. 

Hybrid Economic Systems Preview 04:56

  • Hybrid (Mixed) Economies;

  • Intro to Economic Theory Models.

Economic Systems Recap

Training on theme "Economic Systems"

Supply and Demand 9 lectures

Intro to Supply and Demand Preview 01:16

  • Supply and Demand Topic Objectives and Introduction.

Supply and Demand Preview 02:27

  • Brief description of Supply and Demand Topics;

  • Intro to Alfred Marshall Works on Microeconomics.

Introduction to Demand Preview 03:47

  • Introduction to Demand;

  • Determinants of Demand.

Demand Factors Preview 02:30

  • Demand factors:

    • Price;

    • Income.

Demand Factors II Preview 01:55

  • Demand factors:

    • Prices of Related Goods;

    • Tastes and Expectations.

Introduction to Supply Preview 01:41

  • Supply intro;

  • Supply curve.

Supply and Demand Equilibrium Preview 01:36

  • Market Equilibrium intro.

Digital Supply and Demand Preview 04:12

  • Supply and Demand in Digital Economy;

  • Preparation for the quiz.

Supply and Demand Recap

Training on theme "Supply and Demand"

Game Theory 9 lectures

Intro to Game Theory - GT Preview 03:10

Game Theory History Preview 02:00

Cooperative / Non-Cooperative Games Preview 02:00

Symmetric / Asymmetric Games Preview 01:20

Zero / Non-Zero Sum Games Preview 02:53

Game Types Preview 02:11

Game Elements Summary Preview 02:31

Key Concepts Preview 02:21

Recap on Game Theory

Decision Making Approaches 5 lectures

Decision Making Notion & Concept Preview 03:31

In this section you will learn:

- Decision Theory (DT) 101;

- Decision Concept;

- Decision Theory History;

- Decision Theory Under the Hood;

- Impact of Decision Theory.

Decision Making Process Preview 02:37

Ways to Improve Decision Making Preview 04:06

Decision Theory & Conclusion Preview 05:48

Recap on Decision Making

Entrepreneurial Activity Origins and Approaches 10 lectures

Intro and Objectives Preview 01:03

Anthony Breer & Entrepreneurship Notions Preview 01:40

Entrepreneurs as Business Leaders Preview 02:31

Entrepreneurial Success Factors Preview 02:38

Project Entrepreneurs Preview 02:59

Economics of Entrepreneurship Preview 01:57

Entrepreneurial Activity Notion Preview 02:23

Approaches to Entrepreneurship Analysis Preview 01:49

Frank Knight & J. Schumpeter Concepts Preview 02:37

Kirzner, Baumol and Leibenstein Concepts Preview 04:43

Internet Entrepreneurial Activity's Early Approaches 6 lectures

Intro and Objectives Preview 00:40

Entrepreneurial Activity Research Preview 01:08

Internet Entrepreneurial Activity Studies Preview 01:59

Internet Business Analysis Preview 02:50

Virtual Organizations Specifics Preview 03:12

Virtual Organizations Problems Preview 04:46

Brief Economics History via Personalities 5 lectures

Intro to Economics History Preview 00:45

We will focus on Brief History of Economics:

  • Karl Marx;

  • Adam Smith;

  • David Ricardo;

  • John Keynes.

Karl Marx and Adam Smith Preview 04:41

  • Overview of Karl Marx findings;

  • Brief review of Adam Smith works.

David Ricardo Preview 03:03

  • Political Economy Principles Overview.

John Maynard Keynes Preview 03:53

  • The General Theory of Employment, Interest & Money;

  • Preparation for the quiz.

Economics History via Personalities I

Training on theme "History of Economics via Personalities I"

Brief Economics History: Modern Times 6 lectures

Intro to Economics Modern Times Preview 00:40

We will focus on Brief History of Modern Economics:

  • Michael Dell;

  • Ingvar Kamprad;

  • Peter Drucker.

Michael Dell and Ingvar Kamprad Preview 05:31

Basics Notions of Economics Preview 03:48

Basic Notions of Economics:

  • Needs and Wants;

  • Opportunity Cost;

  • Economic Specialities.

Founder of Modern Management Preview 04:03

  • Peter Drucker;

  • Preparation for the Quiz.

Economics History via Personalities II

Training on theme "History of Economics via Personalities II"

Essay on a Famous Economic Personality

Please write essay on a famous economic individual. E.g. Adam Smith, Elon Musk.