Back to Microeconomics: When Markets Fail
University of Pennsylvania

Microeconomics: When Markets Fail

Perfect markets achieve efficiency: maximizing total surplus generated. But real markets are imperfect. In this course we will explore a set of market imperfections to understand why they fail and to explore possible remedies including as antitrust policy, regulation, government intervention. Examples are taken from everyday life, from goods and services that we all purchase and use. We will apply the theory to current events and policy debates through weekly exercises. These will empower you to be an educated, critical thinker who can understand, analyze and evaluate market outcomes.

Status: Market Share
Status: Market Analysis
Course12 hours

Featured reviews

LE

5.0Reviewed Oct 20, 2016

Another fine course from Professor Stein. I particularly appreciated the final set of lectures, but all were well presented, understandable, and relevant.

AL

5.0Reviewed Mar 20, 2025

Excellent coverage of market failures, including monopoly, externalities, adverse selection, and moral hazard.

BD

5.0Reviewed Jan 24, 2022

Excellent course by Prof. Stein. One of the best, I have seen. Thanks for such a brilliant course.

AN

5.0Reviewed Feb 10, 2021

A great comtinuation of the principles of microeconomics. These two courses are so far my favorite on coursera! I wish the professor made more courses about microeconomics!

DV

5.0Reviewed Oct 23, 2018

Love how the videos were brief, but informative. Very helpful class and exams weren't overly complicated. In the end, I felt as though I retained much of the knowledge.

PD

5.0Reviewed Jan 1, 2019

Very helpful and informative class.... liked the challenge of getting my microeconomics view back in order...

HT

5.0Reviewed Apr 23, 2021

The course is best for those who are beginners to Microeconomics. I had no idea of Microeconomics. This course has given me confidence to start my journey to start learning more. Thanks

VK

5.0Reviewed Aug 4, 2022

An outstanding course. I highly recommend it to anyone who wants to understand why the Invisible Hand is not enough to tackle market failures. Professor Stein is a gem.

AS

4.0Reviewed Aug 23, 2020

Learnt so much from this course has helped me reinforce some ideas I had already from microeconomics.

VR

5.0Reviewed May 23, 2017

I came here for the videos! Extremely concise and accurate. Very good for reviewing material. I speak from the level of an HL Economics student in the IB.

NP

5.0Reviewed Aug 11, 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.

JD

5.0Reviewed Feb 26, 2021

lectures are engaging, quizes are helpful means to study for the credit course I am taking from another university.

All reviews

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David Voyles
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Reviewed Oct 24, 2018
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Mike Y Wang
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Reviewed Jun 17, 2018
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