First, you will learn about supply, demand, and equilibrium. You will study what causes shifts in supply and demand, what creates surplus, and how shortages occur. You will then look into taxes and subsidies and learn how the price system evolves and develops, along with the concepts of price ceilings and price floors. The course will also cover the concept of comparative advantage and the most common arguments against trade.
You will then learn all about competition in the market and the effects of monopolies. You will look into the monopolies that are created by patents in the pharmaceutical industry and how these patents affect research and development. You will look into labor markets, the value of education, and the concept of human capital. Finally, you will study the economics related to the consumer and learn about price discrimination, free rider, budget line, moral hazards, and much more.
The study of economics is not just for economists. By studying this microeconomics course, you will expand your business vocabulary and gain knowledge of how the markets work. You will understand market dynamics as a whole and learn how you can apply them to your organization, and will also boost your ability to analyze your own spending habits in the process. These are some great rewards, so check out the course today and learn something valuable and interesting in just a few short hours!
Start Course Now What You Will Learn In This Free Course
View All Learning Outcomes View Less All Alison courses are free to enrol study and complete. To successfully complete this course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this course, you have the option to acquire an official Diploma, which is a great way to share your achievement with the world.
Your Alison is:
- Ideal for sharing with potential employers
- Include it in your CV, professional social media profiles and job applications.
- An indication of your commitment to continuously learn, upskill & achieve high results.
- An incentive for you to continue empowering yourself through lifelong learning.
Alison offers 3 types of Diplomas for completed Diploma courses:
- Digital : a downloadable in PDF format immediately available to you when you complete your purchase.
- : a physical version of your officially branded and security-marked , posted to you with FREE shipping.
- Framed : a physical version of your officially branded and security marked in a stylish frame, posted to you with FREE shipping.
All are available to purchase through the Alison Shop. For more information on purchasing Alison , please visit our FAQs. If you decide not to purchase your Alison , you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our pricing, please visit our Pricing Page
Knowledge & Skills You Will Learn
