Topic outline

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    • Time: 32 hours
    • Free Certificate
    Microeconomics is the brand of economics that pertains to consumer behavior and the economic decisions of producers and the government. It includes the topics of supply and demand, the elasticity of demand and supply, production costs, utility and profit maximization, and market structures.

    When discussing the economy, we refer to the marketplace or economic system where the choices of all economic agents interact. This course explores how and why we make economic decisions and how our choices affect the economy. Each unit is a building block. By the end of this course, you will be able to grasp the major issues microeconomists face, including consumer and producer behavior, supply and demand, how different markets function, and the welfare outcomes of consumers and producers. We also examine how formal principles and concepts apply to real-world issues.