First Introduction To Microeconomics

Tags: Microeconomics

A great first overview of what is Microeconomics

Last updated 2022-01-10 | 0

- Introduction to Microeconomics
- Consumer Theory
- Theory of the Firm

What you'll learn

Introduction to Microeconomics

Consumer Theory

Theory of the Firm

Introduction to Game Theory

* Requirements

* Be able to do basic mathematical computations
* Be able to calculate a first derivative

Description

This course is a perfect first introduction to Microeconomics. We will have a look at Consumer Theory and the Theory of the Firm. In that sessions, we will slowly introduce all the basis of the theories and illustrate everything with graphs. We will look at the demand and supply curves, how they react to change in prices and other shocks. We will also study the market equilibrium and the different types of markets (PPC, monopoly, oligopoly). You should be able to understand the differences between competitive equilibrium and monopoly equilibrium.

And at the end, we will introduce some further notions of Microeconomics such as Price strategies, Strategic Interactions and Game Theory (Prisoner's Dilemma), Public Goods and Externalities, Uncertainty and Information Asymmetry. If you are an Undergraduate student taking your first economics classes or if you just want to learn more about Microeconomics for your personal knowledge, you've come to the right place!

All the sessions will finish with some quizzes and there will be 2 assignements. The exercises are here to help you check if you've understood the concepts, and if you have any doubt, don't hesitate to go back to the lectures. I am also available to answer any question you may have.

Who this course is for:

New Economics students

Course content

6 sections • 23 lectures

Introduction 2 lectures

Introduction Preview 21:37

This is the first session to the course of Introduction to Microeconomics. We will talk about economic principles, go over some definitions. You should be able to tell what is in the field of microeconomics and what is in the field of macroeconomics. Understand what is the opportunity cost. Understand what is the difference between correlation and causality.

Introduction to Economic Principles

A quick quizz to check your understanding of economic principles

Consumer Theory 5 lectures

Consumer Theory: Preferences Preview 09:53

We are starting to look at Consumer Theory and we will explain what are preferences, their proprieties and how we represent them.

Consumer Theory: Choices Preview 18:07

Now that we have seen preferences, it is time that we understand what is the optimal choice for consumers depending on their preferences and their income.

Consumer Theory: The Demand Preview 14:22

Final lecture of Consumer Theory, we look at the demand and how it reacts to changes in prices, income, etc. We will see the difference between a change along the curve and a shift of the curve.

Consumer Theory

A short quizz to check your understanding of Consumer Theory

Price Elasticity of Demand and Income

The following exercise will allow you to understand better how to find the price elasticity of demand and of income of a good.

Theory of the Firm 3 lectures

Theory of the Firm: Costs and Profits Preview 09:13

Leaving the consumers behind, we now look at the Theory of the Firm. And we start by looking at the firms' costs and profits.

Firms and Competitive Markets Preview 15:23

Theory of the Firm

A quick quizz to see if you understood the principles of the Theory of the Firm.

Market Equilibrium and different forms of Markets 5 lectures

Market Equilibrium Preview 10:09

Monopoly and Market Power Preview 18:01

Price strategies Preview 14:04

Market Equilibrium and Monopoly

A quick quizz to test your understanding of market equilibrium and monopoly

Market Equilibrium

This assignment will be helpful to test your knowledge and understanding of the Market equilibirum and Theory of the Firm. If anything is unclear, please send me a message!