Free online coursePrinciples of Microeconomics
Duration of the online course: 20 hours and 41 minutes
New course
Explore MIT's free Principles of Microeconomics course. Covering topics from supply and demand to international trade and health economics. Ideal for basic studies in economics.
Course Description
Embark on a comprehensive journey into the world of economics with "Principles of Microeconomics" course. Designed to deliver a robust understanding of the fundamental concepts, this course extends over a period of 20 hours and 41 minutes and offers a deep dive into the intricate mechanisms that drive economic systems. As part of the Basic Studies category, this course is particularly tailored for those new to the field of Economics, providing a springboard for more advanced studies and real-world application.
The course begins with an introduction to the core principles of supply, setting the stage for more complex topics to come. From there, participants explore preferences and utility functions, essential for understanding consumer behavior and decision-making. The concept of budget constraints is then introduced, along with constrained choice, which examines how individuals make optimal decisions given their financial limitations.
A significant focus is placed on demand curves and the effects of income and substitution, elucidating how various factors influence consumer demand. The course delves into production theory, examining the processes by which goods and services are created, and provides a thorough analysis of production costs. Competition in various market structures is explored in two detailed segments, shedding light on the dynamics of competitive markets.
Participants gain a deep understanding of supply and demand interactions and their implications for welfare economics. The course also investigates the nature of monopolies through two focused modules, providing insights into the behavior and impact of single firms dominating a market. Oligopoly scenarios are examined in subsequent lessons, highlighting the strategic interactions between a few dominant firms.
The intricacies of input markets, particularly the labor market and capital, are examined next, followed by a discussion on how individuals make economic choices over time, including strategies for increasing savings. The course also tackles international trade, analyzing its effects on welfare and policy.
Uncertainty and its repercussions on economic decisions are discussed, alongside a balanced exploration of efficiency and equity in economic systems. The course delves into the role of government intervention, particularly through redistribution and taxation, and discusses various types of market failures, including externalities and informational asymmetry. A dedicated module on health economics wraps up the curriculum, providing a relevant context for the application of microeconomic principles in the health sector.
Though currently unrated, "Principles of Microeconomics" promises a well-rounded educational experience, meticulously guiding participants through the essential aspects of microeconomics. Whether you are a beginner aiming to build a solid foundation or someone interested in a thorough refresher, this course offers valuable insights into the economic forces that shape our world.
Conteúdo do Curso
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Video class: 1. Introduction and Supply
0h34m
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Video class: 2. Preferences and Utility Functions
0h41m
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Exercise: _What is the first step in the process of creating a demand curve according to Jonathan Gruber's lecture on Principles of Microeconomics?
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Video class: 3. Budget Constraints and Constrained Choice
0h49m
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Exercise: _What is the budget constraint in microeconomics?
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Video class: 4. Demand Curves and Income/Substitution Effects
0h49m
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Video class: 5. Production Theory
0h48m
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Exercise: _What is the goal of a producer in microeconomics?
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Video class: 6. Costs
0h50m
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Exercise: _What is the goal of this lecture in Principles of Microeconomics by MIT?
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Video class: 7. Competition I
0h48m
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Exercise: _What are sunk costs in economics?
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Video class: 8. Competition II
0h50m
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Exercise: _What is the new optimal production level after a tax of $10 per unit is imposed on the cost function 10 plus 5q squared?
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Video class: 9. Supply and Demand
0h47m
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Exercise: _What happens to the market for gas if everyone suddenly wants to drive SUVs?
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Video class: 10. Welfare Economics
0h48m
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Video class: 11. Monopoly I
0h50m
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Exercise: _What is the key difference between a perfectly competitive market and a monopoly market?
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Video class: 12. Monopoly II
0h46m
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Exercise: _What is a natural monopoly according to Jonathan Gruber's lecture on monopolies in Principles of Microeconomics by MIT?
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Video class: 13. Oligopoly
0h46m
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Exercise: _What is an oligopoly market structure?
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Video class: 14. Oligopoly II
0h45m
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Exercise: _What is the reason why firms in oligopolistic markets don't always cooperate to achieve the best outcome?
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Video class: 15. Input Markets I—Labor Market
0h50m
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Exercise: _What is the assumption made about the factor markets in the lecture on factor demand?
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Video class: 16. Input Markets II—Labor and Capital
0h49m
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Exercise: _What would happen if a government regulation set a minimum wage below W1?
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Video class: 17. Making Choices Over Time
0h49m
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Exercise: _What is the concept of present value in economics?
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Video class: 18. Increasing Savings
0h48m
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Video class: 19. International Trade: Welfare and Policy
0h48m
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Video class: 20. Uncertainty
0h48m
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Exercise: _What concept will be discussed in the lecture?
Microeconomics
Free Microeconomics Courses
Welcome to our curated list of free Microeconomics courses, a subcategory of Economics that delves into the behavior of individuals and firms in making decisions regarding the allocation of scarce resources. Whether you're a student, a professional, or simply an enthusiast looking to expand your knowledge, these courses offer valuable insights into the principles and applications of Microeconomics.
Our selection includes a variety of courses from top universities and educational platforms, ensuring high-quality content and comprehensive coverage of key microeconomic concepts. Best of all, these courses are entirely free, making them accessible to anyone with an internet connection. Explore the intricacies of supply and demand, market structures, consumer behavior, and more without spending a dime.
Why Study Microeconomics?
- Understand Market Mechanisms: Learn how markets operate, how prices are determined, and the role of competition in shaping market outcomes.
- Make Informed Decisions: Gain insights into how individuals and firms make decisions, helping you to make better choices in your personal and professional life.
- Policy Implications: Understand the impact of government policies on markets and the economy, enabling you to critically analyze policy decisions.
- Career Advancement: Enhance your resume with valuable skills and knowledge that are highly regarded in various fields such as finance, consulting, and public policy.
Featured Free Microeconomics Courses
- Microeconomics Principles - Coursera: Offered by the University of Illinois, this course covers the fundamentals of microeconomics, including supply and demand, elasticity, and market structures.
- Principles of Microeconomics - edX: Provided by MIT, this course explores the principles of microeconomics with a focus on real-world applications and problem-solving.
- Microeconomics - Khan Academy: A comprehensive series of video lessons and exercises covering various microeconomic topics, from basic concepts to advanced theories.
- Microeconomic Principles - FutureLearn: This course from the University of California, Irvine, offers an in-depth look at microeconomic principles and their applications.
- Introduction to Microeconomics - OpenLearn: A beginner-friendly course from The Open University, perfect for those new to the subject.
Key Topics Covered
- Supply and Demand
- Elasticity
- Consumer Behavior
- Production and Costs
- Market Structures (Perfect Competition, Monopoly, Oligopoly)
- Game Theory
- Externalities and Public Goods
- Labor Markets
- Government Intervention
Embark on your learning journey today with these free Microeconomics courses and gain a deeper understanding of the economic forces that shape our world. Whether you're looking to enhance your academic knowledge, improve your career prospects, or simply satisfy your curiosity, our list of courses has something for everyone.
Don't miss out on this opportunity to learn from the best instructors and institutions, all at no cost to you. Start exploring the fascinating world of Microeconomics now!
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20 hours and 41 minutes of online video course
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