About this Course
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Approx. 12 hours to complete

English

Subtitles: English, Mongolian

Skills you will gain

ExternalityEconomicsMicroeconomicsMarket (Economics)

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Approx. 12 hours to complete

English

Subtitles: English, Mongolian

Syllabus - What you will learn from this course

Week
1
1 hour to complete

Costs and Profits + Perfect Competition

20 videos (Total 45 min), 1 reading, 3 quizzes
20 videos
1.1.1: Defining Profits1m
1.1.2: Defining Fixed Costs and Variable Costs2m
1.1.3: Marginal Productivity2m
1.1.4: Marginal Productivity: Definition1m
1.1.5: Marginal Cost1m
1.1.6: Average Cost2m
1.1.7: Graph of Marginal and Average Cost Curves1m
1.2.1: Perfect Competition: Definition5m
1.2.2: Profit Maximization Perfect Competition2m
1.2.3: Profit Maximization: MR=MC3m
1.2.4: Profit Maximizations vs. Making Profits2m
1.2.5: Profit Maximization: The Case of Losses2m
1.2.6: Perfect Competition: The Firm's Supply Curve REPLACE1m
1.2.7: Definition of Short Run vs. Long Run1m
1.3.1: Perfect Competition: Firm Entry When Profits are Positive2m
1.3.2: Perfect Competition: Firm Entry When Profits are Negative1m
1.3.3: Perfect Competition: An Efficient Outcome2m
1.3.4: Perfect Competition: In The Long Run2m
1.3.5: Perfect Competition: An Efficient Outcome Pt 21m
1 reading
Participate in a Purdue Research Project (Optional)10m
3 practice exercises
1.1: Costs and Profits10m
1.2: Perfect Competition: Definition and Output12m
1.3: Perfect Competition: Implications for Efficiency6m
Week
2
1 hour to complete

Monopoly

13 videos (Total 39 min), 2 quizzes
13 videos
2.1.2: The Monopoly as a Price Setter2m
2.1.3 Marginal Revenue vs Price: Numerical Example2m
2.1.4 Marginal Revenue vs Price: Graphical Example2m
2.1.5 Marginal Revenue vs Price: Example Using Calculus1m
2.1.6 Profit Maximization in a Monopoly2m
2.1.7 Profit Maximization in a Monopoly: Numerical Example4m
2.2.1 Monopoly vs Perfect Competition6m
2.2.2 Efficiency loss under a Monopoly2m
2.2.3 Monopoly vs Perfect Competition: Numerical Example5m
2.2.4 Monopoly vs Perfect Competition: Example of Dead Weight Loss2m
2.2.5 Monopoly vs Perfect Competition: Summary1m
2.2.6 Why do we allow monoplies?3m
2 practice exercises
2.1: Monopoly definition8m
2.2: Monopoly vs. Perfect Competition Numerical example14m
Week
3
1 hour to complete

Monopoly Continued

14 videos (Total 39 min), 3 quizzes
14 videos
3.1.2 Government Regulation and Antitrust Law2m
3.1.3 Natural Monopoly: Implications for the Average Total Cost3m
3.1.4 Natural Monopoly: Graphical Presentation1m
3.1.5 Natural Monopoly: Profit Maximizing Outcome4m
3.1.6 Natural Monopoly: Regulation though Marginal Cost Pricing3m
3.1.7 Natural Monopoly: Regulation though Average Cost Pricing3m
3.2.1 Price Discrimination: Definition3m
3.2.2 Price Discrimination: Graphical Example4m
3.3.1 Monopolistic Competition: Definiton2m
3.3.2 Monopolistic Competition: Core Results1m
3.3.3 Monopolistic Competition: Graphical Presentation in the Short Run3m
3.3.4 Monopolistic Competition: Graphical Presentation in the Long Run1m
3.3.5 Monopolistic Competition: Mark up and Excess Capacity2m
3 practice exercises
3.1: Natural Monopoly14m
3.2: Price Discriminating Monopoly10m
3.3 Monopolistic Competition8m
Week
4
2 hours to complete

Externalities + Public Goods

20 videos (Total 52 min), 4 quizzes
20 videos
4.1.2: Externalities: Allocative Efficiency: Refresher1m
4.1.3: Negative Externalities: Implications for Efficiency4m
4.1.4: Positive Externalities: Implications for Efficiency3m
4.1.5: The Coase Theorem2m
4.1.6: Interalizing a Negative Externality via a Per Unit Tax2m
4.1.7: Interalizing a Positive Externality via a Per Unit Subsidy1m
4.2.1: Externalities: A Numerical Example2m
4.2.2: Interalizing a Negative Externality via Tax: A Numerical Example4m
4.2.3 Government Intervention in the Case of Externalities2m
4.2.4 Externality: Conclusion1m
4.3.1 Pure Public Goods: Nonexcludable and Nonrival2m
4.3.2: Examples of Different Types of Goods4m
4.3.3: Implications of Nonexcludability2m
4.3.4: Free Riding1m
4.3.5: Implications of Nonrivalness1m
4.4.1: The Role of the Government in Providing Public Goods1m
4.4.2: Provision of Public Good by the Government2m
4.4.3: Free Riding as a Prisoners' Dilemma3m
4.4.4: Public Goods Conclusion1m
4 practice exercises
4.1: Externalities10m
4.2: Solutions to Externalities12m
4.3: Public Goods10m
4.4: Solutions to Public Goods10m
4.8
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Top reviews from Microeconomics: When Markets Fail

By JRJan 14th 2018

Great and relevant content, presented in an interesting and easy way; allowing the student to go through the video materials in an individual pace and thus optimize the study sessions.

By NPAug 12th 2018

I really appreciated the short form videos and abundant visual examples. I would take MANY more classes on Coursera if it were guaranteed that they would follow this format.

Instructor

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Rebecca Stein

Senior Lecturer
Economics

About University of Pennsylvania

The University of Pennsylvania (commonly referred to as Penn) is a private university, located in Philadelphia, Pennsylvania, United States. A member of the Ivy League, Penn is the fourth-oldest institution of higher education in the United States, and considers itself to be the first university in the United States with both undergraduate and graduate studies. ...

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