Microeconomics: The Essential Diagrams Series - Part 1

Learn the 16 Essential Diagrams Taught in All Microeconomics Introductory Courses!

What you'll learn

These essential twelve diagrams taught in Microeconomics Born of Supply, Demand, Elasticity, Government Failure, and Market Failure

What is behind why governments tax certain products and why they don't

Why governments subsidize certain industries in their economies and why they don't

How governments do their best to curb consumption of unhealthy stuff, promote healthy consumption all things, tax emissions, and promote clean energy

Requirements

A Love of Economics!

An Interest in Learning About How Economists Draw Human Behavior

A Solid Understanding of Basic Microeconomic Theory Would Be Helpful–But Not Essential

Description

Hey Everyone!The creation of this course comes directly from feedback and suggestions from Udemy students just like you!  Thank you so much for checking out this course and for making my courses the highest grossing Economics courses on Udemy.  This course, and in fact the entire Essential Diagrams Series, is designed for two types of students. The first are those looking to master the sixteen essential diagrams taught in virtually every introductory Microeconomics course. The second are teachers and students looking for an overview of exactly how on earth you draw human behavior on a diagram. If you are either one of these students, then this course is for you.These 16 Essential Diagrams are born of the core economic theory taught in Microeconomics–Supply, Demand, Elasticity, Government Intervention, and Market Failure. These theories are what is behind why governments tax certain products and why they don't; why governments subsidize certain industries in their economies and why they don't; and how governments do their best to curb consumption of unhealthy stuff, promote healthy consumption all things, tax certain emissions, and promote the production of clean energy (for example). These sixteen diagrams are literally pictorial depictions of those human intentions.What are we going to learn? These 16 Essential Microeconomic diagrams:The Basic Demand and Supply Diagram:  The Rule of 11Market Equilibrium: Market and Allocative EfficiencyElasticity: Price Elasticity of Demand DiagramGovernment Intervention: The Indirect Tax DiagramGovernment Intervention: The Per-Unit Subsidy DiagramGovernment Intervention: The Price Ceiling DiagramGovernment Intervention: The Price Floor DiagramMarket Failure: The Market Failure Base DiagramMarket Failure: The Negative Externality of Consumption DiagramMarket Failure: The Negative Externality of Consumption SolutionsMarket Failure: The Negative Externality of Production DiagramMarket Failure: The Negative Externality of Production SolutionsMarket Failure: The Positive Externality of Consumption DiagramMarket Failure: The Positive Externality of Consumption SolutionsMarket Failure: The Positive Externality of Production DiagramMarket Failure: The Positive Externality of Production SolutionsImportant point! If you are looking for a comprehensive Microeconomics course, this course isn't for you! Instead, check out my Microeconomics: A Comprehensive Economics Course below.Lastly, I teach Economics because it fascinates me because it is the study of human behavior. Economics isn’t about data and graphs and problem sets. It is the study of people and their story and their history and the forces of society that we are born into. It provides us with an understanding of ourselves–that is not hyperbole!As a former Peace Corps Volunteer, a graduate of Duke University, and someone who has been fortunate enough to have traveled to over 58 countries around world, you will see how those experiences shape my teachings of Economics.Economics is the study of human behavior; and it is as a result of that behavior that economists have something to put into data charts and diagrams to study. Don't ever forget that!I am looking forward to being a part of your studies!Brad

Overview

Section 1: Welcome to The Essential Diagrams Series!

Lecture 1 Welcome!

Section 2: The Supply, Demand, and Market Equilibrium Diagrams

Lecture 2 The Basic Demand and Supply Diagram: The Rule of 11

Lecture 3 Market Equilibrium: Market and Allocative Efficiency

Section 3: The The Price Elasticity of Demand Diagram

Lecture 4 Elasticity: Price Elasticity of Demand Diagram

Section 4: The Government Intervention Diagrams

Lecture 5 Government Intervention: The Indirect Tax Diagram

Lecture 6 Government Intervention: The Per-Unit Subsidy Diagram

Lecture 7 Government Intervention: The Price Ceiling Diagram

Lecture 8 Government Intervention: The Price Floor Diagram

Section 5: The Market Failure Diagrams

Lecture 9 Market Failure: The Market Failure Base Diagram

Lecture 10 Market Failure: The Negative Externality of Consumption | Diagram

Lecture 11 Market Failure: The Negative Externality of Consumption | Solutions

Lecture 12 Market Failure: The Negative Externality of Production | Diagram

Lecture 13 Market Failure: The Negative Externality of Production | Solutions

Lecture 14 Market Failure: The Positive Externality of Consumption | Diagram

Lecture 15 Market Failure: The Positive Externality of Consumption | Solutions

Lecture 16 Market Failure: The Positive Externality of Production | Diagram

Lecture 17 Market Failure: The Positive Externality of Production | Solutions

Section 6: Thank you and Good Luck!

Lecture 18 Thank you and good luck!

Current Economics Students Looking to Master The Twelve Essential Microeconomic Diagrams,A Student Headed to an Exam in AP Economics, IB Economics, or Any University Level Introductory Course,Students with a Curiosity on How Economics Actually Draw Human Behavior