Introduction To Microeconomics In The Real World

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Tags: Microeconomics

Supply, Demand & Elasticity/ Taxes & Tariffs/ Competition/ Customer Theory/ Regression/ Game Theory/ Costs/ Externality

Last updated 2022-01-10 | 4.2

- Main Principles and Terms of Economics (Scarcity
- Opportunity Cost
- Externality
- Inflation
- etc.)
- Observation
- Assumptions and Economic Models
- The Relationship between Economy Participants

What you'll learn

Main Principles and Terms of Economics (Scarcity
Opportunity Cost
Externality
Inflation
etc.)
Observation
Assumptions and Economic Models
The Relationship between Economy Participants
The Production Possibilities Frontier
Microeconomics vs. Macroeconomics
Positive vs. Normative Economics
Specialization and Trade
Import/Export
Money and Its Functions
Markets and Competition
Demand and Supply (Movements
Shifts
Equilibrium)
Price Elasticity of Demand and Its Determinants
Income and Cross-Price Elasticity of Demand
Price Elasticity of Supply and Its Determinants
Price Ceiling and Price Floor
Minimum Wage Impact on the Labor Market
Tax Burden Division among Buyers and Sellers
Direct vs. Indirect Taxes
Progressive vs. Regressive Taxes
Fiscal vs. Monetary Policy
Consumer and Producer Surplus
Market Efficiency
Deadweight Loss and Tax Revenue
The Impact of International Trade on Importing and Exporting Countries
Tariff and Deadweight Loss
Arguments for Restricting Trade
Positive and Negative Externalities
Social Optimum
Policies toward Externalities
Public Goods and Common Resources
Tragedy of the Commons
The Design of the Tax System
The Costs of Production
Economies and Diseconomies of Scale
Break-Even Analysis
Competitive Market and Its Characteristics
Monopolies and the Reasons Why They Exist
Natural Monoply
Price Descrimination
Monopolistic Competition and Its Characteristics
Oligopoly
Duopoly and the Characteristics
Game Theory (Prisoner's Dilemma
Profits Maximization
An Arms-Race Game
A Common-Resources Game)
Profit Maximization in Different Markets
The Markets for the Factors of Production
Earnings and Discrimination
Maslow's Hierarchy of Needs
Indifference Curves and Budget Constraint
Substitutes and Complements
Income and Substitution Effects
Economics of Asymmetric Information (Moral Hazard
Adverse Selection)
Political Economy
Behavioral Economics
Regression Analysis and Various Excel Calculations
Building Demand Function for a Real Company

* Requirements

* There are no prerequisites.

Description

  • Main Principles and Terms of Economics (Scarcity, Opportunity Cost, Externality, Inflation, etc.)
  • Observation, Assumptions and Economic Models
  • The Relationship between Economy Participants
  • The Production Possibilities Frontier
  • Microeconomics vs. Macroeconomics
  • Positive vs. Normative Economics
  • Specialization and Trade
  • Import/Export
  • Money and Its Functions
  • Markets and Competition
  • Demand and Supply (Movements, Shifts, Equilibrium)
  • Price Elasticity of Demand and Its Determinants
  • Income and Cross-Price Elasticity of Demand
  • Price Elasticity of Supply and Its Determinants
  • Price Ceiling and Price Floor
  • Minimum Wage Impact on the Labor Market
  • Tax Burden Division among Buyers and Sellers
  • Direct vs. Indirect Taxes
  • Progressive vs. Regressive Taxes
  • Fiscal vs. Monetary Policy
  • Consumer and Producer Surplus
  • Market Efficiency
  • Deadweight Loss and Tax Revenue
  • The Impact of International Trade on Importing and Exporting Countries
  • Tariff and Deadweight Loss
  • Arguments for Restricting Trade
  • Positive and Negative Externalities, Social Optimum
  • Policies toward Externalities
  • Public Goods and Common Resources
  • Tragedy of the Commons
  • The Design of the Tax System
  • The Costs of Production
  • Economies and Diseconomies of Scale
  • Break-Even Analysis
  • Competitive Market and Its Characteristics
  • Monopolies and the Reasons Why They Exist
  • Natural Monoply
  • Price Descrimination
  • Monopolistic Competition and Its Characteristics
  • Oligopoly, Duopoly and the Characteristics
  • Game Theory (Prisoner's Dilemma, Profits Maximization, An Arms-Race Game, A Common-Resources Game)
  • Profit Maximization in Different Markets
  • The Markets for the Factors of Production
  • Earnings and Discrimination
  • Maslow's Hierarchy of Needs
  • Indifference Curves and Budget Constraint
  • Substitutes and Complements
  • Income and Substitution Effects
  • Economics of Asymmetric Information (Moral Hazard, Adverse Selection)
  • Political Economy
  • Behavioral Economics
  • Regression Analysis and Various Excel Calculations
  • Building Demand Function for a Real Company

Course content

24 sections • 27 lectures

Introduction 1 lectures

Introduction Preview 01:42

Ten Principles of Economics 1 lectures

Ten Principles of Economics Preview 28:16

Thinking Like an Economist 1 lectures

Thinking Like an Economist Preview 33:09

Interdependence and the Gains from Trade 1 lectures

Interdependence and the Gains from Trade Preview 23:07

The Market Forces of Supply and Demand 1 lectures

The Market Forces of Supply and Demand Preview 23:58

Elasticity and Its Application 1 lectures

Elasticity and Its Application Preview 18:45

Supply, Demand, and Government Policies 1 lectures

Supply, Demand, and Government Policies Preview 30:17

Consumers, Producers, and the Efficiency of Markets 1 lectures

Consumers, Producers, and the Efficiency of Markets Preview 20:18

Application: The Costs of Taxation 1 lectures

Application: The Costs of Taxation Preview 19:41

Application: International Trade 1 lectures

Application: International Trade Preview 32:09

Externalities 1 lectures

Externalities Preview 17:20

Public Goods and Common Resources 1 lectures

Public Goods and Common Resources Preview 11:26

The Design of the Tax System 1 lectures

The Design of the Tax System Preview 17:43

The Costs of Production 1 lectures

The Costs of Production Preview 23:43

Firms in Competitive Markets 1 lectures

Firms in Competitive Markets Preview 22:49

Monopoly 1 lectures

Monopoly Preview 26:27

Monopolistic Competition 1 lectures

Monopolistic Competition Preview 15:51

Oligopoly 1 lectures

Oligopoly Preview 20:24

The Markets for the Factors of Production 1 lectures

The Markets for the Factors of Production Preview 18:01

Earnings and Discrimination 1 lectures

Earnings and Discrimination Preview 20:47

Income Inequality and Poverty 1 lectures

Income Inequality and Poverty Preview 29:59

The Theory of Consumer Choice 1 lectures

The Theory of Consumer Choice Preview 26:17

Frontiers of Microeconomics 1 lectures

Frontiers of Microeconomics Preview 19:50

Bonus Advanced Topics 4 lectures

Advanced Topic Class 1 Preview 30:21

Advanced Topic Class 2 Preview 29:56

Advanced Topic Class 3 Preview 31:04

Advanced Topics Class 4 Preview 44:27