Moduli (18) Resources ()
supply, demand, and taxes
Module 1: Supply, Demand, and EquilibriumResources availableIn this module, you will first explore how people respond to changes in price and discover the relationship between price and quantity supplied. Next, learn how prices reach equilibrium. Then, learn about horizontal and vertical methods for reading the demand curve, how demand curves shift, and consumer surplus. Then, explore important factors that shift the demand curve as well as the supply curve. Lastly, this module will present a case study that explores the equilibrium model.
Supply, Demand, and Equilibrium: Learning OutcomesAvvio argomenti
Introduction to MicroeconomicsAvvio argomenti
The Demand CurveAvvio argomenti
The Supply CurveAvvio argomenti
The Equilibrium Price and QuantityAvvio argomenti
A Deeper Look at the Demand CurveAvvio argomenti
The Demand Curve ShiftsAvvio argomenti
A Deeper Look at the Supply CurveAvvio argomenti
The Supply Curve ShiftsAvvio argomenti
Exploring EquilibriumAvvio argomenti
Does the Equilibrium Model Work?Avvio argomenti
Supply and Demand TerminologyAvvio argomenti
Supply, Demand, and Equilibrium: Lesson SummaryAvvio argomenti
Module 2: Elasticity and Its ApplicationsResources availableIn this module, learn about determinants of elasticity, the midpoint formula, and how to calculate the elasticity of supply. Then, explore the history of the Sudan civil war and how elasticity relates to the slave redemption. Lastly, learn about how elasticity relates to other scenarios, such as gun buyback programs in the U.S.
Elasticity and Its Applications: Learning OutcomesAvvio argomenti
Elasticity of DemandAvvio argomenti
Office Hours: Elasticity of DemandAvvio argomenti
Calculating the Elasticity of DemandAvvio argomenti
Elasticity of SupplyAvvio argomenti
Elasticity and Slave RedemptionAvvio argomenti
Applications Using ElasticityAvvio argomenti
Elasticity and Its Applications: Lesson SummaryAvvio argomenti
Module 3: Taxes and SubsidiesResources availableIn this module, you will first learn about taxes, tax revenue, and subsidies. Then, learn about who really pays taxes – buyers or sellers? This will be introduced in conjunction with the notion of social security and health insurance taxes. Then, gain an understanding of why taxes exist and how taxes relate to surplus and deadweight. Lastly, learn about subsidies, such as wage subsidies and minimum wage.
Taxes and Subsidies: Learning OutcomesAvvio argomenti
Commodity TaxesAvvio argomenti
Who Pays the TaxAvvio argomenti
Tax Revenue and Deadweight LossAvvio argomenti
Wage SubsidiesAvvio argomenti
Taxes and Subsidies: Lesson SummaryAvvio argomenti
price and trade
Module 4: The Price SystemResources availableIn this module, learn about the price system and how people with dispersed knowledge and information help to coordinate global economic activity. Then, learn how markets link the world and how we should approach limited resources. Next, learn about how prices provide information and incentives and signals. Lastly, learn about speculation and futures and the effect they have on prices.
The Price System: Learning OutcomesAvvio argomenti
I, RoseAvvio argomenti
A Price is a Signal Wrapped up in an IncentiveAvvio argomenti
Markets Link the WorldAvvio argomenti
The Great Economic ProblemAvvio argomenti
Information and IncentivesAvvio argomenti
Prediction MarketsAvvio argomenti
The Price System: Lesson SummaryAvvio argomenti
Module 5: Price Ceilings and Price FloorsResources availableIn this module, learn about price ceilings and price floors. Learn how price ceilings create shortages, such as in the oil crisis of the 1970s. Then, learn what the unintended consequences of price ceilings are. Following lessons on price ceilings, you will learn about price floors, such as minimum wage. Lastly, you will learn about how price controls relate to communism.
Price Ceilings and Price Floors: Learning OutcomesAvvio argomenti
Price CeilingsAvvio argomenti
Price Ceilings: Shortages and Quality ReductionAvvio argomenti
Price Ceilings: Lines and Search CostsAvvio argomenti
Price Ceilings: Deadweight LossAvvio argomenti
Price Ceilings: Misallocation of ResourcesAvvio argomenti
Price Ceilings: Rent ControlsAvvio argomenti
Price Floors: The Minimum WageAvvio argomenti
Price Floors: Airline FaresAvvio argomenti
Why Do Governments Enact Price Controls?Avvio argomenti
Price Controls and CommunismAvvio argomenti
Price Ceilings and Price Floors: Lesson SummaryAvvio argomenti
Module 6: TradeResources availableIn this module, you will learn about specialization and division of knowledge and how this relates to trade. Then, you will learn about comparative advantage. Following this, learn about the costs and consequences of tariffs, quotas, and protectionism. Lastly, learn the common arguments against international trade.
Trade: Learning OutcomesAvvio argomenti
The Big Ideas of TradeAvvio argomenti
Comparative AdvantageAvvio argomenti
Another Look at Comparative AdvantageAvvio argomenti
Comparative Advantage HomeworkAvvio argomenti
Tariffs and ProtectionismAvvio argomenti
Arguments Against International TradeAvvio argomenti
Trade: Lesson SummaryAvvio argomenti
first assessment - microeconomics
Module 7: First Assessment - MicroeconomicsResources availableIn this module, you will assessed on your understanding of material in the "Supply, Demand and Taxes" "Price and Trade" modules.
First Assessment - MicroeconomicsStart Assessment
Module 8: ExternalitiesResources availableIn this module, learn about externalities and their costs. Learn about private, external, and social costs. Then, learn about the effects of Pigouvian taxes. Lastly, learn about command and control and the coase theorem.
Externalities: Learning OutcomesAvvio argomenti
An Introduction to ExternalitiesAvvio argomenti
External BenefitsAvvio argomenti
Command and Control SolutionsAvvio argomenti
The Coase TheoremAvvio argomenti
Trading PollutionAvvio argomenti
A Deeper Look at Tradeable AllowancesAvvio argomenti
Externalities: Lesson SummaryAvvio argomenti
Module 9: Costs and Profit Maximization Under CompetitionResources availableIn this module, learn how companies maximize profits in a competitive marketplace. Then, learn about who really controls the prices of goods and services. Lastly, learn about profit: learn how to calculate total revenue, how to predict profit, and how to minimize losses.
Costs and Profit Maximization Under Competition: Learning OutcomesAvvio argomenti
Introduction to the Competitive FirmAvvio argomenti
Maximizing Profit Under CompetitionAvvio argomenti
Maximizing Profit and the Average Cost CurveAvvio argomenti
Entry, Exit, and Supply Curves: Increasing CostsAvvio argomenti
Entry, Exit, and Supply Curves: Constant CostsAvvio argomenti
Entry, Exit, and Supply Curves: Decreasing CostsAvvio argomenti
Costs and Profit Maximization Under Competition: Lesson SummaryAvvio argomenti
Module 10: Competition and the Invisible HandResources availableIn the module, you will be introduced to the concept of the Invisible Hand. Learn about balancing production with costs. Then, learn about the processes of creative destruction and the elimination principle, two processes that form the competitive marketplace.
Competition and the Invisible Hand: Learning OutcomesAvvio argomenti
Minimization of Total Industry Costs of ProductionAvvio argomenti
The Balance of Industries and Creative DestructionAvvio argomenti
Competition and the Invisible Hand: Lesson SummaryAvvio argomenti
Module 11: MonopolyResources availableIn this module, you will learn about monopolies, in particular you will learn about monopolies in the pharmaceutical industry. Learn about the costs and benefits of monopolies. Then, explore the possible results of the elimination of parents in industries with high R&D costs: will this result in less innovation?
Monopoly: Learning OutcomesAvvio argomenti
Maximizing Profit Under MonopolyAvvio argomenti
Office Hours: Calculating Monopoly ProfitAvvio argomenti
The Monopoly MarkupAvvio argomenti
The Costs and Benefits of MonopolyAvvio argomenti
Monopoly: Lesson SummaryAvvio argomenti
Module 12: Price DiscriminationResources availableIn this module, you will be introduced to the concept of price discrimination. Take part in a discussion whether or not price discrimination is good for society, depending on the output. Then, learn about tying and bundling. Decide whether these processes are forms of price discrimination and whether they are good or bad for social welfare.
Price Discrimination: Learning OutcomesAvvio argomenti
Introduction to Price DiscriminationAvvio argomenti
The Social Welfare of Price DiscriminationAvvio argomenti
Price Discrimination: Lesson SummaryAvvio argomenti
Module 13: Labor MarketsResources availableIn this module, learn about the marginal product of labor. All of your questions about wages and labor unions will be answered. Learn how to derive the demand for labor based on the marginal product of labor. Furthermore, learn about the value of education and the signals an education creates. In addition, learn about the concept of human capital.
Labor Markets: Learning OutcomesAvvio argomenti
The Marginal Product of LaborAvvio argomenti
Econ Duel: Is Education Signaling or Skill Building?Avvio argomenti
Human Capital and SignalingAvvio argomenti
The Tradeoff Between Fun and WagesAvvio argomenti
Compensating DifferentialsAvvio argomenti
Do Unions Raise Wages?Avvio argomenti
Labor Markets: Lesson SummaryAvvio argomenti
Module 14: Public Good and the Tragedy of the CommonsResources availableIn this module, we will explore the concept of public goods. Learn about taxation and government provisions, and how this relates to free and forced riders. Then, learn about club goods and how profit can be made off public goods. Lastly, learn about common goods and the tragedy of the commons.
Public Goods and the Tragedy of the Commons: Learning OutcomesAvvio argomenti
Public Goods and Asteroid DefenseAvvio argomenti
A Deeper Look at Public GoodsAvvio argomenti
Club GoodsAvvio argomenti
The Tragedy of the CommonsAvvio argomenti
Public Good and the Tragedy of the Commons: Lesson SummaryAvvio argomenti
Module 15: Asymmetric InformationResources availableIn this module, you will learn about the theory of adverse selection, asymmetric information, and propitious selection. This will include discussions on asymmetrical information regards to buying cars and health insurance. You will also be introduced to the concept of moral hazard and solutions to avoiding it.
Asymmetric Information: Learning OutcomesAvvio argomenti
Asymmetric Information and Used CarsAvvio argomenti
Asymmetric Information in Health InsuranceAvvio argomenti
Moral HazardAvvio argomenti
Solutions to Moral HazardAvvio argomenti
Asymmetric Information: Lesson SummaryAvvio argomenti
Module 16: Consumer ChoiceResources availableIn this module, learn about consumption, utility, and substitution. Understand how much value you receive from a good or service and at what point that this value begins to diminish. Additionally, understand the meaning of a budget line and an indifference curve and how you can combine these to get maximum utility.
Consumer Choice: Learning OutcomesAvvio argomenti
Introduction to Consumer ChoiceAvvio argomenti
Budget ConstraintsAvvio argomenti
Indifference CurvesAvvio argomenti
Consumer OptimizationAvvio argomenti
Consumer Choice: Lesson SummaryAvvio argomenti
second assessment - microeconomics
Module 17: Second Assessment - MicroeconomicsResources availableIn this module, you will assessed on your understanding of material in the Competition and the Consumer modules.
Second Assessment - MicroeconomicsStart Assessment
course assessment: Diploma in Economia: Microeconomics
Course assessmentResources available