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Microeconomics is a basic part of Economics. By this free microeconomics course it will be easier for anyone to understand the usage of microeconomics in practical life. The good news is that there will be no prerequisites courses and it is flexible for beginners. In this course, the basic key topics will be highlighted such as competition, monopoly, price discrimination, externalities, public goods and more.

Assessment

This course does not involve any written exams. Students need to answer 5 assignment questions to complete the course, the answers will be in the form of written work in pdf or word. Students can write the answers in their own time. Each answer need to be 200 words (1 Page). Once the answers are submitted, the tutor will check and assess the work.

Certification

Edukite courses are free to study. To successfully complete a course you must submit all the assignment of the course as part of assessment. Upon successful completion of a course, you can choose to make your achievement formal by obtaining your Certificate at a cost of £49.

Having an Official Edukite Certification is a great way to celebrate and share your success. You can:

  • Add the certificate to your CV or resume and brighten up your career
  • Show it to prove your success

 

 

Course Credit: MR University

Course Curriculum

Introduction
Introduction to Microeconomics 00:04:00
Supply, Demand, and Equilibrium
The Demand Curve 00:03:00
The Supply Curve 00:03:00
The Equilibrium Price and Quantity 00:05:00
A Deeper Look at the Demand Curve 00:08:00
The Demand Curve Shifts 00:14:00
A Deeper Look at the Supply Curve 00:07:00
The Supply Curve Shifts 00:12:00
Exploring Equilibrium 00:06:00
Does the Equilibrium Model Work? 00:08:00
Supply and Demand Terminology 00:04:00
Elasticity and Its Applications
Elasticity of Demand 00:14:00
Calculating the Elasticity of Demand 00:16:00
Office Hours: Elasticity of Demand 00:04:00
Elasticity of Supply 00:14:00
Elasticity and Slave Redemption 00:05:00
Applications Using Elasticity 00:16:00
Taxes and Subsidies
Commodity Taxes 00:10:00
Who Pays the Tax? 00:09:00
Tax Revenue and Deadweight Loss 00:11:00
Subsidies 00:12:00
Wage Subsidies 00:04:00
The Price System
I, Rose 00:02:00
A Price Is a Signal Wrapped up in an Incentive 00:05:00
Markets Link the World 00:04:00
The Great Economic Problem 00:08:00
Information and Incentives 00:10:00
Speculation 00:11:00
Prediction Markets 00:10:00
Price Ceilings and Price Floors
Price Ceilings 00:04:00
Price Ceilings: Shortages and Quality Reduction 00:06:00
Price Ceilings: Lines and Search Costs 00:10:00
Price Ceilings: Deadweight Loss 00:03:00
Price Ceilings: Misallocation of Resources 00:12:00
Price Ceilings: Rent Controls 00:10:00
Rent Control in Mumbai 00:09:00
Price Floors: The Minimum Wage 00:10:00
Price Floors: Airline Fares 00:08:00
Why Do Governments Enact Price Controls? 00:07:00
Price Controls and Communism 00:04:00
Trade
The Big Ideas of Trade 00:08:00
Comparative Advantage 00:07:00
Another Look at Comparative Advantage 00:12:00
Comparative Advantage Homework 00:05:00
Tariffs and Protectionism 00:15:00
Arguments Against International Trade 00:14:00
Externalities
An Introduction to Externalities 00:12:00
External Benefits 00:07:00
Command and Control Solutions 00:04:00
The Coase Theorem 00:08:00
Trading Pollution 00:04:00
A Deeper Look at Tradable Allowances 00:06:00
Costs and Profit Maximization Under Competition
Introduction to the Competitive Firm 00:07:00
Maximizing Profit Under Competition 00:13:00
Maximizing Profit and the Average Cost Curve 00:12:00
Entry, Exit, and Supply Curves: Increasing Costs 00:06:00
Entry, Exit, and Supply Curves: Constant Costs 00:10:00
Entry, Exit, and Supply Curves: Decreasing Costs 00:06:00
Competition and the Invisible Hand
Minimization of Total Industry Costs of Production 00:09:00
The Balance of Industries and Creative Destruction 00:08:00
Monopoly
Maximizing Profit Under Monopoly 00:11:00
Office Hours: Calculating Monopoly Profit 00:06:00
The Monopoly Markup 00:09:00
The Costs and Benefits of Monopoly 00:09:00
Price Discrimination
Introduction to Price Discrimination 00:10:00
The Social Welfare of Price Discrimination 00:08:00
Bundling 00:15:00
Tying 00:07:00
Labor Markets
The Marginal Product of Labor 00:10:00
Econ Duel: Is Education Signaling or Skill Building? 00:09:00
Human Capital and Signaling 00:07:00
The Tradeoff Between Fun and Wages 00:03:00
Compensating Differentials 00:05:00
Do Unions Raise Wages? 00:05:00
Public Goods and the Tragedy of the Commons
Public Goods and Asteroid Defense 00:02:00
A Deeper Look at Public Goods 00:08:00
Club Goods 00:05:00
The Tragedy of the Commons 00:11:00
Asymmetric Information
Asymmetric Information and Used Cars 00:03:00
Asymmetric Information in Health Insurance 00:07:00
Moral Hazard 00:04:00
Solutions to Moral Hazard 00:00:00
Signaling 00:07:00
Consumer Choice
Introduction to Consumer Choice 00:05:00
Budget Constraints 00:07:00
Indifference Curves 00:08:00
Consumer Optimization 00:06:00
Bonus Topics
Office Hours: Game Theory 00:04:00
Assessment
Submit Your Assignment 00:00:00
Certification 00:00:00

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