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Marginal Revolution University
World-class economics from experts
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Teaching on Alison since Aug 2021
Marginal Revolution University is the world's largest online library of free economics educational videos. With more than 900 videos, the project is committed to providing a world-class economics education to everyone, everywhere, for free. MRU was founded in 2012 by Prof Tyler Cowen and Prof Alex Tabarrok, two economics experts from George Mason University in Virginia in the United States, an institution with a renowned reputation in both law and economics.

Professors Cowen and Tabarrok are the authors of several widely used economics textbooks and, since 2003, have also co-authored a popular economics blog called Marginal Revolution. These ventures served as the inspiration for their free online learning platform. Both believe that an education in eco...
🏆 Top Course by this Course Creator
Microeconomics: The Consumer
4,825 Learners already enrolled
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Free Online Courses by Marginal Revolution University
Microeconomics: Supply, Demand, and Equilibrium
1.5-3 hrs 7,440 learners
By Marginal Revolution University
You Will Learn How To

By the end of this course, you will be able to:

  • Define the terms 'demand curve' and 'supply curve'
  • Identify the factors that may create a shift in supply or demand
  • Define 'equilibrium quantity' and 'equilibrium price'
  • Explain how surplus is created and calculate consumer surplus
  • Define 'elasticity' and list the determinants of elasticity
  • Explain the midpoint formula and use it to calculate the elasticity of supply
  • Define 'taxes' and 'tax subsidies'
  • Discuss who bears the burden of taxes, particularly regarding social security, wage subsidies, and affordable healthcare
  • Define and discuss 'deadweight loss'
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CERTIFICATE
Beginner Level
Economics
Microeconomics: Supply, Demand, and Equilibrium
1.5-3 hrs
7440 enrolled
Diploma in Economics: Microeconomics
10-15 hrs 20,315 learners
By Marginal Revolution University
You Will Learn How To

By the end of this course, you will be able to:

  • Discuss supply, demand, and equilibrium
  • Explain elasticity and its applications
  • Discuss the effect of taxes and subsidies on social welfare
  • Explain how the price system works and define price ceilings and price floors
  • Assess arguments against trade and why trade is important
  • Discuss externalities
  • Calculate profit
  • Discuss monopolies
  • Explain price discrimination
  • Discuss the labour market
  • Compare public, private, and common goods
  • Explain asymmetric information and moral hazard
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DIPLOMA
Beginner Level
Economics
Diploma in Economics: Microeconomics
10-15 hrs
20315 enrolled
Microeconomics: Price and Trade
1.5-3 hrs 3,959 learners
By Marginal Revolution University
You Will Learn How To

After completing this course, you will be able to:

  • Explain the price system and define prices
  • Discuss how markets link people and places
  • Define speculation, futures and predictions markets
  • Explain how prediction markets can help businesses, governments and scientists
  • Define a 'price ceiling' and a 'price floor'
  • Explain the unintended consequences of price ceilings
  • Explain why governments enact price controls and discuss how price controls relate to Communism
  • Discuss the benefits of trade and define protectionism, tariffs and quotas
  • Explain the common arguments against international trade
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CERTIFICATE
Beginner Level
Economics
Microeconomics: Price and Trade
1.5-3 hrs
3959 enrolled
Microeconomics: Competition in the Marketplace
1.5-3 hrs 3,398 learners
By Marginal Revolution University
You Will Learn How To

By the end of this course, you will be able to:

  • Define private, external, social costs and Pigouvian taxes
  • Discuss externalities, both costs and benefits
  • Explain social surplus, fixed costs, variable costs, marginal costs, zero costs and sunk costs
  • Compare increasing, decreasing and constant cost industries
  • Discuss when it is best to enter or exit an industry
  • Explain the properties of the invisible hand of the market
  • Discuss creative destruction
  • Define the elimination principle
  • Discuss how monopolies create markups
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CERTIFICATE
Beginner Level
Economics
Microeconomics: Competition in the Marketplace
1.5-3 hrs
3398 enrolled
Microeconomics: The Consumer
1.5-3 hrs 4,825 learners
By Marginal Revolution University
You Will Learn How To

By the end of this course, you will be able to:

  • Explain price discrimination and discuss how it can help or hurt social welfare
  • Define and discuss 'tying' and 'bundling'
  • Discuss the marginal product of labour
  • Discuss how unions can either lower or raise wages
  • Distinguish between non-rival, non-excludable, rival, and excludable goods and resources
  • Define public, club and common goods
  • Discuss free and forced riders
  • Define adverse selection and asymmetrical information
  • Define 'moral hazard' and discuss ways that it can be avoided
  • Define 'consumption', 'utility' and 'substitution'
  • Explain the marginal rate of substitution and describe the indifference curve
course logo
CERTIFICATE
Beginner Level
Economics
Microeconomics: The Consumer
1.5-3 hrs
4825 enrolled
Showing 1 - 5 of 5
Learner Reviews & Feedback For
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Michel Frederico Mussafo C.
I loved this course! I could learn wonderful things and also see economics with more depth. It makes my learning experience more fun.
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I enjoy learning all the time and learning Micro Econ is always great. Its amazing to see how people act when things change and really does make me look at certain aspects very different!
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