About this Course
4.8
657 ratings
149 reviews
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Beginner Level

Beginner Level

Hours to complete

Approx. 25 hours to complete

Suggested: Customizable based on your level of interest...
Available languages

English

Subtitles: English, Spanish, Chinese (Simplified)...

Skills you will gain

PricingEconomicsMicroeconomicsEconomic Analysis
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Beginner Level

Beginner Level

Hours to complete

Approx. 25 hours to complete

Suggested: Customizable based on your level of interest...
Available languages

English

Subtitles: English, Spanish, Chinese (Simplified)...

Syllabus - What you will learn from this course

Week
1
Hours to complete
2 hours to complete

Course Orientation

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....
Reading
1 video (Total 3 min), 4 readings, 1 quiz
Reading4 readings
Syllabus30m
About the Discussion Forums15m
Updating Your Profile15m
Social Media15m
Quiz1 practice exercise
Orientation Quiz10m
Hours to complete
3 hours to complete

Introduction and Basic Principles

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 nice guys, we can apply the rules of economics to pretty much anything. ...
Reading
6 videos (Total 52 min), 1 reading, 1 quiz
Video6 videos
2.1. What is Economics?9m
2.2. Opportunity Costs6m
2.3. Net Marginal Benefit Principle8m
2.4. The Invisible Hand Principle9m
2.5. Trade13m
Reading1 reading
Week 1 Overview15m
Quiz1 practice exercise
Week 1 Quiz30m
Week
2
Hours to complete
4 hours to complete

Supply and Demand

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....
Reading
17 videos (Total 122 min), 1 reading, 1 quiz
Video17 videos
1.2. The Market for Romantic Relationships7m
2.1. The Determinants of Demand4m
2.2. The Demand Function, Schedule, and Curve7m
2.3. Introducing Comparative Statistics: Changes in the Price4m
2.4. A Change in Demand, Part 113m
2.5. A Change in Demand, Part 210m
3.1. The Determinants of Supply4m
3.2. The Supply Equation, Schedule, and Curve7m
3.3. Price of an Input Changes5m
3.4. A Change in Technology4m
4.1. Supply Surplus, Supply Shortage, and Equilibrium Price12m
5.1. Changes in Demand: Price of Related Goods10m
5.2. Changes in Demand: Consumer Preferences4m
5.3. A Change in Supply7m
5.4. Simultaneous Change in Supply and Demand6m
6.1. Demand and Supply Conclusion8m
Reading1 reading
Week 2 Overview15m
Quiz1 practice exercise
Week 2 Quiz30m
Week
3
Hours to complete
3 hours to complete

Market Efficiency and Government Policies

Welcome to Week 3! Last module we introduced the supply and demand model to explain how free markets work. One of the main concepts we learned about free markets was that they tend to gravitate toward an “equilibrium” price and quantity. This module we will use the same conceptual model to answer one important question: Are free markets the best way to distribute society’s resources?...
Reading
10 videos (Total 67 min), 1 reading, 1 quiz
Video10 videos
2.1. What is Consumer Surplus?8m
2.2. Consumer Surplus and the Demand Curve3m
3.1. What is Producer Surplus?3m
3.2. Producer Surplus and the Supply Curve3m
4.1. Total Surplus: The Graphical Argument for Free Markets9m
5.1. Price Ceilings8m
5.2. Price Floors11m
6.1. Could We Reduce the Shortage of Human Organs?7m
6.2. Application: Playoff Tickets and Scalping Laws3m
Reading1 reading
Week 3 Overview15m
Quiz1 practice exercise
Week 3 Quiz30m
Week
4
Hours to complete
3 hours to complete

Elasticities

Welcome to the fourth week! This module we will cover one of my favorite economics concepts: elasticity. It is one of my favorites because of how useful it is to analyze policy implications, as well as its usefulness for business managers. This will be obvious to you when you read one of the discussion topics for this module: Should we legalize marijuana?...
Reading
14 videos (Total 89 min), 1 reading, 1 quiz
Video14 videos
2.1. Definition and Classifying Price Elasticities of Demand10m
2.2. Price Elasticity of Demand and Revenue4m
2.3. Determinants of Price Elasticity of Demand10m
2.4. Price Elasticities of Demand and the Linear Demand Curve5m
3.1. Income Elasticity of Demand5m
3.2. Cross-Price Elasticity of Demand8m
4.1. Definition of Price Elasticity of Supply2m
4.2. Determinants of Price Elasticity of Supply2m
5.1. Introduction to Per-Unit Taxes4m
5.2. The Distributional Effects of Tax13m
5.3. Taxes and Surplus4m
6.1. Should Black Dog Increase the Price of Their Sandwiches?2m
6.2. Other Applications of Price Elasticity8m
Reading1 reading
Week 4 Overview15m
Quiz1 practice exercise
Week 4 Quiz30m
4.8
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started a new career after completing these courses
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Top Reviews

By FKJul 16th 2017

Great way to explain economics, especially for students with english as a second language. Thanks for dividing the videos into smaller parts making me able to plan my schedule in great flexibility.

By FDec 4th 2016

Perfect course. Everything is clear. I really like the way the instructor teach something and I should note that the examples he uses are legendary :D For exmple market for romantic relationships.

Instructor

Avatar

Dr. José J. Vázquez-Cognet

Clinical Professor
Department of Economics

About University of Illinois at Urbana-Champaign

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Frequently Asked Questions

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  • When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

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