The Complete Microeconomics Course: From Basics To Advanced

Learn How Individuals; Markets Make Decisions (Includes Game Theory Lesson)

What you'll learn

Undergraduate students taking introductory economics courses.

Business professionals seeking to enhance their decision-making skills.

Anyone curious about how markets work and how economic principles impact our lives.

Understand the core principles of supply and demand. The sources explain that the course will introduce the fundamentals of micro economics.

Requirements

This microeconomics course is designed to be accessible to everyone, even if you have no prior experience with economics.

The lectures start with the very basics and gradually introduce more advanced concepts.

You do not need any special skills, experience, tools, or equipment to take this course.

All you need is a willingness to learn and an interest in understanding the fascinating world of microeconomics!

Description

Have you ever wondered how prices are set, why consumers make certain choices, or how businesses compete in the marketplace? This comprehensive microeconomics course will unlock these mysteries and equip you with the knowledge to understand the economic forces that shape our world!This course is perfect for:●Undergraduate students taking introductory economics courses.●Business professionals seeking to enhance their decision-making skills.●Anyone curious about how markets work and how economic principles impact our lives.In this course you will:●Start with the basics: You'll learn the fundamental concepts of microeconomics, including scarcity, choice, and opportunity cost.●Dive into supply and demand: We'll explore how supply and demand interact to determine prices and quantities in a market. You'll also learn how to analyze shifts in supply and demand and their impact on market equilibrium.●Uncover the power of elasticity: We'll cover price elasticity of demand and supply, income elasticity, and cross elasticity, giving you the tools to understand how consumers and producers respond to changes in price and income.●Explore consumer behavior: You'll gain insights into consumer choices and preferences. We'll cover concepts like utility, total utility, marginal utility, and the law of diminishing marginal utility.●Analyze production and costs: You'll learn about factors of production, production functions, and the law of diminishing returns. We'll also examine different cost concepts, including fixed costs, variable costs, total costs, and marginal costs. You'll see how firms make production decisions based on these cost considerations.●Get to know market structures: We'll study different types of market structures, including perfect competition, monopoly, monopolistic competition, and oligopoly. You'll learn how firms behave in each of these structures and how market power affects prices and output.●Go beyond the basics with a Lecture on Game Theory: This special lecture introduces you to game theory and its applications in economics, including strategic decision-making in oligopolistic markets.By the end of this course, you will be able to:●Understand how markets work and the forces that drive supply and demand.●Analyze consumer behavior and predict how changes in price, income, or other factors will affect demand.●Make informed business decisions about pricing, production, and market entry.●Think strategically and anticipate the actions of competitors using game theory principles.Enroll today and start your journey to mastering microeconomics!

Overview

Section 1: Introduction to Microeconomics

Lecture 1 What is Microeconomics?

Lecture 2 Why Study Microeconomics?

Lecture 3 Basic Economic Problems

Section 2: Demand, Supply, and Market Equilibrium

Lecture 4 Understanding Demand

Lecture 5 Understanding Supply

Lecture 6 Market Equilibrium and Price Mechanism

Lecture 7 Changes in Equilibrium

Section 3: Elasticity of Demand and Supply

Lecture 8 Price Elasticity of Demand

Lecture 9 Income and Cross Elasticity of Demand

Lecture 10 Price Elasticity of Supply

Section 4: Consumer Behavior and Utility

Lecture 11 Understanding Utility and Satisfaction

Lecture 12 The Law of Diminishing Marginal Utility

Lecture 13 Consumer Equilibrium and Indifference Curves

Section 5: Theory of Production and Costs

Lecture 14 Factors of Production

Lecture 15 The Law of Diminishing Returns

Lecture 16 Cost Concepts and Cost Curves

Lecture 17 Economies of Scale

Section 6: Market Structures

Lecture 18 Perfect Competition

Lecture 19 Monopoly

Lecture 20 Monopolistic Competition

Lecture 21 Oligopoly

Section 7: Market Failures and Government Intervention

Lecture 22 Externalities and Public Goods

Lecture 23 The Role of Government in Market Failures

Lecture 24 Income Distribution and Welfare Economics

Section 8: Introduction to Game Theory and Strategic Behavior

Lecture 25 The Basics of Game Theory

Students: If you're a high school or undergraduate student taking an economics course, this course will provide a solid foundation and help you excel in your studies.,Business Professionals: If you work in business, this course will give you valuable insights into market forces, consumer behavior, and strategic decision-making. You'll be able to apply these concepts to your work and make more informed choices.,Entrepreneurs: Are you thinking of starting a business? This course will help you understand the economic landscape, analyze markets, and develop effective pricing strategies.,Anyone Curious about Economics: Even if you're not a student or business professional, if you're interested in how the economy works, this course is for you. You'll learn how economic principles impact our daily lives and gain a deeper understanding of the world around us.