Economics- Introduction to Microeconomics

Course Description

• Free
• Beginner (No experience needed)
• 11 Lessons Online
• No Schedules, Self-Paced
• Detailed Videos & Exercises
• Could Receive Credits Toward Your Degree (Learn How)

Economics is the study of how humans respond to incentives and make tradeoffs. Economics can guide policymakers and businesses by providing a framework predicting how businesses, individuals, and markets will respond to new policies, products, or unforeseen events. Students will be able to understand how incentives and economic principles explain the world around them using economic reasoning and formal models.

The significance of economics and how it shapes our ordinary, everyday decisions such as to work or to spend time relaxing cannot be denied. How it does that will be covered in this short introductory course which brings together the fundamentals of economics to provide an overview of different economic principles and how they work together to sustain activity on not just a micro scale but through the interconnectedness of network of smaller activities, on a scale of national activities.

Students will be taken through the core economic concepts such as those supply and demand production and supply theory, consumer choice, and eventually an understanding of markets and the different types of competition that exist such as perfect competition, monopolistic and oligopolistic competition. Further in the course, students also introduced to the labour market and wage distribution and eventually the capital market which plays a significant role in the functioning of economies today.

The course has been designed to ensure that students don’t just understand the theoretical concepts but also learn to apply them to their personal and professional lives and look for solutions to real world problems.

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Sample Lesson List

• Demand and Supply
• Land and Rent
• Labor Market and Wage Discrimination
• …and More! 11 free lessons in total. Get Started →

Professor

Dr. Nick Huntington-Klein

Dr. Klein has a Ph.D. in Economics from the University of Washington.

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A Career in Business

Economic knowledge is a key part of any career in business. Understanding what drives prices, consumer demand, and supply is valuable to many industries from finance to logistics or transportation. The following is sample job data on salary and growth from the Bureau of Labor Statistics for jobs as a business analyst, along with recommendations based on our research.

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Business analysts are researchers who create documentation that can be used for a variety of purposes. Commonly, business analysts are employed by large corporations that manage complex legacy systems. Business analysts document the workings of legacy systems so systems can be rebuilt and modernized.

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