When will I receive my Course Certificate?

If you complete the course successfully, your electronic Course Certificate will be added to your Accomplishments page - from there, you can print your Course Certificate or add it to your LinkedIn profile.

Why can’t I audit this course?

This course is currently available only to learners who have paid or received financial aid, when available.

Is financial aid available?

Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

Introduction to Economic Concepts

Introduction to Economic Concepts

This course is part of Principles of Microeconomics Specialization

Instructor: Pearson

Included with Learn more

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1 module

Gain insight into a topic and learn the fundamentals.

Beginner level

Recommended experience

5 hours to complete

Flexible schedule

Learn at your own pace

1 module

Gain insight into a topic and learn the fundamentals.

Beginner level

Recommended experience

5 hours to complete

Flexible schedule

Learn at your own pace

What you'll learn

Explain the fundamental questions and core principles that define the economic way of thinking.
Apply principles of scarcity, opportunity cost, and trade to analyze economic decision-making and the potential for growth.

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Build your subject-matter expertise

This course is part of the Principles of Microeconomics Specialization

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

Learn new concepts from industry experts
Gain a foundational understanding of a subject or tool
Develop job-relevant skills with hands-on projects
Earn a shareable career certificate

There is 1 module in this course

This course equips you to apply the economic way of thinking to analyze how resources are allocated in a world of scarcity. You will learn to determine opportunity cost, explain the factors of production, and describe how specialization and trade lead to economic growth. By mastering these foundational concepts, you will gain a practical framework for understanding global production and making more effective decisions in both your personal and professional life.

This course delves into the intricacies of the economic way of thinking. Starting with the central question of resource allocation, we will explore the factors of production and highlight their influence on economic results. You will be able to distinguish between capital and consumer goods, understanding their fundamental roles in shaping an economy. Finally, we'll delve into the concepts of efficient and inefficient modes of production.

What's included

1 video2 assignments3 app items4 plugins

1 videoTotal 4 minutes

Production Possibilities Frontier (PPF)4 minutes

2 assignmentsTotal 120 minutes

Practice Quiz60 minutes
Graded Quiz60 minutes

3 app itemsTotal 150 minutes

Reading: The U.S. and Global Economies pp. 1-3460 minutes
Reading: The U.S. and Global Economies pp. 35-6045 minutes
Reading: The Economic Problem pp. 61-8445 minutes

4 pluginsTotal 20 minutes

Interactive: Capital vs Consumer Goods5 minutes
Interactive: Factors of Production5 minutes
Interactive: Efficiency and Tradeoffs5 minutes
Interactive: Opportunity Cost5 minutes

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Add this credential to your LinkedIn profile, resume, or CV. Share it on social media and in your performance review.

Instructor

Pearson

152 Courses179 learners

Offered by

Pearson

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Frequently asked questions

Yes, you can preview the first video and view the syllabus before you enroll. You must purchase the course to access content not included in the preview.

If you decide to enroll in the course before the session start date, you will have access to all of the lecture videos and readings for the course. You’ll be able to submit assignments once the session starts.

Once you enroll and your session begins, you will have access to all videos and other resources, including reading items and the course discussion forum. You’ll be able to view and submit practice assessments, and complete required graded assignments to earn a grade and a Course Certificate.