Microeconomics: Supply, Demand, and Equilibrium

Name: Microeconomics: Supply, Demand, and Equilibrium
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Learn about supply, demand, and taxes and how they impact the economy with this free online microeconomics course.

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Learning Outcomes

In this free course, you will learn how 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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