Microeconomics Principles

Microeconomics Principles

This course is part of Microeconomics Principles Specialization

Instructor: Dr. José J. Vázquez-Cognet

What you'll learn

Identifying hidden costs of anything

Skills you'll gain

Decision Making

Details to know

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Assessments

3 assignments

Taught in English

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This course is part of the Microeconomics Principles Specialization

When you enroll in this course, you'll also be enrolled in this Specialization.

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There are 3 modules in this course

Most people make the incorrect assumption that economics is ONLY the study of money. My primary goal in this course is to shatter this belief. During this course, we will be addressing the above questions as well as many more relating to:

-the environment -love and marriage -crime -labor markets -education -politics -sports -business My main goal is to show you the way economists think and how to use this analytical system to answer questions related not only to these and other important human issues but to anything you end up doing with your life after this class. After all, as you will quickly find out, I believe that everything is economics!

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.

What's included

1 video4 readings1 assignment1 discussion prompt

Welcome to your first week in Microeconomics Principles! As you will quickly see, the things you learn in this class will probably help you see the world in a different way. Economics is not just about money, as you may have incorrectly assumed. On the contrary, as you will learn in this lesson, economics is about how society distributes scarce resources. And, since almost anything in the world is a scarce resource, from fossil fuels to suitable romantic partners, we can apply the rules of economics to pretty much anything.

What's included

6 videos1 reading1 assignment1 discussion prompt

6 videosTotal 52 minutes

1.1. Welcome to Principles of Microeconomics5 minutesPreview module
2.1. What is Economics?9 minutes
2.2. Opportunity Costs6 minutes
2.3. Net Marginal Benefit Principle8 minutes
2.4. The Invisible Hand Principle9 minutes
2.5. Trade13 minutes

1 readingTotal 15 minutes

Week 1 Overview15 minutes

1 assignmentTotal 30 minutes

Week 1 Quiz30 minutes

1 discussion promptTotal 60 minutes

Week 1 Discussion Questions60 minutes

Welcome to your second week in Microeconomics Principles! This module we will cover the hallmark framework of the field: the supply and demand model. I am sure that if you knew any economics words before enrolling in this course those two words were supply and demand. This module you will finally learn what all the fuss is about.

What's included

17 videos1 reading1 assignment1 discussion prompt

17 videosTotal 121 minutes

1.1. What is a Market?1 minutePreview module
1.2. The Market for Romantic Relationships7 minutes
2.1. The Determinants of Demand4 minutes
2.2. The Demand Function, Schedule, and Curve7 minutes
2.3. Introducing Comparative Statistics: Changes in the Price4 minutes
2.4. A Change in Demand, Part 113 minutes
2.5. A Change in Demand, Part 210 minutes
3.1. The Determinants of Supply4 minutes
3.2. The Supply Equation, Schedule, and Curve7 minutes
3.3. Price of an Input Changes5 minutes
3.4. A Change in Technology4 minutes
4.1. Supply Surplus, Supply Shortage, and Equilibrium Price12 minutes
5.1. Changes in Demand: Price of Related Goods10 minutes
5.2. Changes in Demand: Consumer Preferences4 minutes
5.3. A Change in Supply7 minutes
5.4. Simultaneous Change in Supply and Demand6 minutes
6.1. Demand and Supply Conclusion8 minutes

1 readingTotal 15 minutes

Week 2 Overview15 minutes

1 assignmentTotal 30 minutes

Week 2 Quiz30 minutes

1 discussion promptTotal 60 minutes

Week 2 Discussion Questions60 minutes

Instructor

Instructor ratings

4.8 (744 ratings)

Dr. José J. Vázquez-Cognet

University of Illinois Urbana-Champaign

4 Courses188,326 learners

Offered by

University of Illinois Urbana-Champaign

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Reviewed on May 11, 2020

The course is really well structured. Examples that are given are very easy to understand and it surely helps someone with no prior knowledge to these subject, to understand it with quickly.

Reviewed on Mar 13, 2019

It's a very well made course. Special thanks to Dr Jose for conveying the fundamentals of Microeconomics in such a lucid and simple way which helps in developing a solid intuition for the subject. :)

Reviewed on Jul 22, 2020

Its very interesting course. It enabled me to understand the basic principles of microeconomics . It will be much more advantageous for me in both academic and professional filed of my life.

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