Rice University
Principles of Economics: Introduction - Getting to Know You
Rice University

Principles of Economics: Introduction - Getting to Know You

This course is part of A Story of Economics: A Principles Tale Specialization

Taught in English

James DeNicco

Instructor: James DeNicco

Included with Coursera Plus

Course

Gain insight into a topic and learn the fundamentals

Beginner level

Recommended experience

19 hours (approximately)
Flexible schedule
Learn at your own pace

Details to know

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Recently updated!

November 2023

Assessments

6 quizzes, 49 assignments

Course

Gain insight into a topic and learn the fundamentals

Beginner level

Recommended experience

19 hours (approximately)
Flexible schedule
Learn at your own pace

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This course is part of the A Story of Economics: A Principles Tale Specialization
When you enroll in this course, you'll also be enrolled in this Specialization.
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There are 7 modules in this course

Congratulations on enrolling and welcome! Please take a look around at these intro and orientation materials. Here you'll learn a little bit about the course, what you'll gain, and also a little bit about yours truly.

What's included

3 videos4 readings1 discussion prompt

It's always a good idea to start a story that's beginning. We're going to begin at the beginning of the story of economics. What is economics? That's a good question. Well, the standard definition is the study of choice in a world of scarcity. Now I can't argue with that, but let's take a deeper dive in this Module explore more of what it's really all about.

What's included

10 videos1 reading1 quiz9 assignments1 discussion prompt

What are markets? Well, a market is just anytime there's a group of buyers and sellers. So the buyers, they're going to constitute demand. Buyers make up the demand for a good or service, sellers, they make up the supply of a good or service. There's all kinds of markets out there and we're going to take a look at them and more in this module.

What's included

12 videos11 assignments1 discussion prompt

Welcome to elasticity. Now with elasticity, we want to talk about how sensitive supply and demand are. Elasticity is a measure of responsiveness of the quantity demanded or quantity supplied when there's a change in one of their determinants. The things that make up supply and demand when they change, how much does the quantity demanded or the quantity supplied change. Now let's take a look at the ins and outs of elasticity.

What's included

9 videos9 assignments1 discussion prompt

In this module, we're going to talk about how government policy interacts with our markets. How government policy interacts with supply and demand. We're going to look at two main types of government policy. We're going to look at price setting and we're going to look at taxes. Let's get to it!

What's included

7 videos7 assignments1 discussion prompt

Welcome to welfare economics. Where here, we're going to look at how well our markets are fairing. Now, I know we don't like to be judgmental, but here we're going to judge, we're going to judge the performance of our markets. In welfare economics, the goal is to get everybody in the market who values the product above or equal to the cost of making it. C'mon, let's get it.

What's included

9 videos4 quizzes4 assignments1 discussion prompt

Oh my gosh, it's the final module of this course! What a journey thus far, but there's still much to cover! Up until this point, we've been assuming that we're in a perfectly competitive market with no externalities. Well, we're going to continue to assume that we're in a perfectly competitive market, even though that might be a little bit more of a theoretical boundary. But here, we're going to relax the assumption about externalities. So no longer are we going to assume that our actions don't affect bystanders. What this is going to give us an ability to do is talk about the potential role of government. So, what is an externality? Let's take a look.

What's included

10 videos1 quiz9 assignments1 discussion prompt

Instructor

James DeNicco
Rice University
3 Courses1,961 learners

Offered by

Rice University

Recommended if you're interested in Economics

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