Microeconomics Principles

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Microeconomics Principles

This course is part of multiple programs.

Instructor: Dr. José J. Vázquez-Cognet

204,513 already enrolled

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3 modules

Gain insight into a topic and learn the fundamentals.

3,310 reviews

Beginner level

Recommended experience

Flexible schedule

9 hours to complete

Learn at your own pace

3 modules

Gain insight into a topic and learn the fundamentals.

3,310 reviews

Beginner level

Recommended experience

Flexible schedule

9 hours to complete

Learn at your own pace

What you'll learn

Identifying hidden costs of anything

Skills you'll gain

Details to know

Shareable certificate

Add to your LinkedIn profile

Assessments

3 assignments

Taught in English

97%

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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 prompt1 plugin

1 videoTotal 3 minutes

Microeconomic Principles at a Glance3 minutes

4 readingsTotal 75 minutes

Syllabus30 minutes
About the Discussion Forums15 minutes
Updating Your Profile15 minutes
Social Media15 minutes

1 assignmentTotal 10 minutes

Orientation Quiz10 minutes

1 discussion promptTotal 30 minutes

Getting to Know Your Classmates30 minutes

1 pluginTotal 15 minutes

New Plugin Item15 minutes

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 minutes
2.1. What is Economics?9 minutes
2.2. Opportunity Costs6 minutes
2.3. Net Marginal Benefit Principle9 minutes
2.4. The Invisible Hand Principle10 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 prompt1 plugin

17 videosTotal 122 minutes

1.1. What is a Market?2 minutes
1.2. The Market for Romantic Relationships8 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 Price5 minutes
2.4. A Change in Demand, Part 114 minutes
2.5. A Change in Demand, Part 210 minutes
3.1. The Determinants of Supply5 minutes
3.2. The Supply Equation, Schedule, and Curve7 minutes
3.3. Price of an Input Changes6 minutes
3.4. A Change in Technology5 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 Supply8 minutes
5.4. Simultaneous Change in Supply and Demand7 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

1 pluginTotal 15 minutes

New Plugin Item15 minutes

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Instructor

Instructor ratings

(765 ratings)

Dr. José J. Vázquez-Cognet

University of Illinois Urbana-Champaign

4 Courses205,766 learners

Offered by

University of Illinois Urbana-Champaign

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Reviewed on Jan 6, 2019

This is an excellent, concise survey course on basic economics. The instructor covers all of the major concepts. This kind of course should be part of every well-rounded education.

Reviewed on Jan 25, 2021

Highly engaging course with questions, real-life examples, and discussion prompts. I would recommend this course for anyone looking for an introduction to microeconomics.

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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