Master Microeconomics Principles


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In this course, Master Microeconomics Principles we will use the same conceptual model to answer one important question: Are free markets the best way to distribute society’s resources?

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About this Course

Most people make the incorrect assumption that economics is ONLY the study of money. My primary goal in this course, Master Microeconomics Principles is to shatter this belief. During this course, we will be addressing the above questions as well as many more relating to:

  • Environment
  • Love and marriage
  • Crime in  Master Microeconomics Principles
  • Labor markets
  • Education
  • Politics
  • Sports
  • Business

My main goal is to show you the way economists think and how to use this analytical system to answer questions related not only to these and other important human issues but to anything you end up doing with your life after this class. After all, as you will quickly find out, I believe that everything is economics!

What You Will Learn

  • Identifying hidden costs of anything

Skills You Will Gain

  • Economics
  • Critical Thinking
  • Microeconomics
  • Economic Analysis

Syllabus

WEEK 1
2 hours to complete

Master Microeconomics Principles: Introduction and Basic Principles
Welcome to your first week in Microeconomics Principles! As you will quickly see, the things you learn in this class will probably help you see the world in a different way. Economics is not just about money, as you may have incorrectly assumed.

On the contrary, as you will learn in this lesson, economics is about how society distributes scarce resources. And, since almost anything in the world is a scarce resource, from fossil fuels to suitable romantic partners, we can apply the rules of economics to pretty much anything.

6 videos (Total 52 min), 1 reading, 1 quiz

WEEK 2
4 hours to complete

Master Microeconomics Principles: Supply and Demand
Welcome to your second week in Microeconomics Principles! In this module we will cover the hallmark framework of the field: the supply and demand model. I am sure that if you knew any economics words before enrolling in this course those two words were supply and demand. In this module you will finally learn what all the fuss is about.

17 videos (Total 122 min), 1 reading, 1 quiz

WEEK 3
3 hours to complete

Master Microeconomics Principles: Market Efficiency and Government Policies
Welcome to Week 3! Last module we introduced the supply and demand model to explain how free markets work. One of the main concepts we learned about free markets was that they tend to gravitate toward an “equilibrium” price and quantity.

10 videos (Total 67 min), 1 reading, 1 quiz

WEEK 4
3 hours to complete

Master Microeconomics Principles: Elasticities
Welcome to the fourth week! In this module, we will cover one of my favorite economics concepts: elasticity. It is one of my favorites because of how useful it is to analyze policy implications, as well as its usefulness for business managers.

This will be obvious to you when you read one of the discussion topics for this module: Should we legalize marijuana?

14 videos (Total 89 min), 1 reading, 1 quiz

WEEK 5
3 hours to complete

Production and Costs
Welcome to your fifth week! In this module, we will begin covering the theory of the firm, which will take us basically three modules to finish. Economists call this section of the course, “The Economics of the Lemonade Stand.”

And that title makes perfect sense since the concepts we cover can be used by anyone, from someone owning a lemonade stand to a car manufacturing company, to a hair salon, to a burrito stand, etc.

9 videos (Total 64 min), 1 reading, 1 quiz

WEEK 6
3 hours to complete

Master Microeconomics Principles: Competitive Output
Welcome to your sixth week! In this module we continue our discussion of the firm by focusing on those firms working in a perfectly competitive (or competitive) environment.

10 videos (Total 75 min), 1 reading, 1 quiz

WEEK 7
3 hours to complete

Master Microeconomics Principles: Firms with Market Power
So, why is it that when you fly the person sitting next to you in the plane probably paid a different price for the ticket than what you paid for it? And why does Starbucks charge so much for its coffee even though you can buy coffee at Dunkin’ Donuts for almost half of that price?

This module we are finishing our discussion of the firm by focusing on cases that should be more familiar to you than the perfect competition examples we have been using.

10 videos (Total 79 min), 1 reading, 1 quiz

WEEK 8
4 hours to complete

Public Goods, Common Resources, and Externalities
And so we have arrived at the last week. This course has gone too fast! This module we will be discussing market failures. A market failure is a situation when the market does not do a good job of distributing resources among members of society. In fact, in all of these cases the market IS the problem.

13 videos (Total 96 min), 1 reading, 1 quiz

Free Course on Master Microeconomics Principles



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Mass Communication Student, Federal University, Oye Ekiti and Content Creation Specialist. Join me on Twitter.

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