Brief Introduction
Use economic models to learn how prices and markets benefit society in the face of scarcity, and then apply those models to analyze policy.
Description
This course is part of the MITx MicroMasters program in Data, Economics, and Development Policy (DEDP). To enroll in the MicroMasters track or to learn more about this program and how it integrates with MIT’s Master’s Program in DEDP, please visit the MicroMasters portal.
What is produced in an economy? How is it produced? Who gets the product? Microeconomics seeks to answer these fundamental questions about markets.
In this course, we’ll introduce you to microeconomic theory, together with some empirical results and policy implications. You’ll analyze mathematical models that describe the real-world behavior of consumers and firms, and you’ll see how prices make the world go ‘round.
You’ll join the ranks of business executives, policymakers, entrepreneurs, and global leaders who rely on the insights they derive from a working knowledge of microeconomics. Nobel memorial prize-winner Paul Samuelson invented the modern microeconomics curriculum at MIT. Now is your chance to learn the field from the intellectual tradition he began.
Topics include:
- Consumer theory
- Supply and demand
- Market equilibrium
- Producer theory
- Monopoly
- Oligopoly
- Capital markets
- Welfare economics
- Public goods
- Externalities
Course Previews:
Our course previews are meant to give prospective learners the opportunity to get a taste of the content and exercises that will be covered in each course. If you are new to these subjects, or eager to refresh your memory, each course preview also includes some available resources. These resources may also be useful to refer to over the course of the semester.
A score of 60% or above in the course previews indicates that you are ready to take the course, while a score below 60% indicates that you should further review the concepts covered before beginning the course.
Please use the this link to access the course preview
Knowledge
- microeconomic concepts and analysis
- supply and demand analysis
- theories of the firm and individual behavior, competition and monopoly, and welfare economics.
Introduction to Microeconomics
- 4.2
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Learn Economics and get some help for your exams This course provides main concepts and exercises for demand and supply, consumer behaviour, production theory, market structures and market failures....
Economics: Competition, Elasticity, a little Game Theory
- 4.1
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Microeconomics is packed with applications to our everyday life - this course will help you connect the dots Let's parse that...
Macroeconomics Performance Indicators
- 0.0
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The macroeconomy affects business conditions and broader social outcomes. Learn about key performance indicators of macroeconomics such as GDP, unemployment and inflation....
Monetary Policy in the Asia Pacific
- 4.8
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Watch the introduction video to the course here: https://youtu. be/U7dQzqtIFVg The Asia-Pacific region contains some of world’s most dynamic economies. The topics covered each week:...
