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Course Syllabus

ECON101: Principles of Microeconomics

Course Introduction

Course Syllabus

Unit 1: Introduction to Economics

1.1: Economics Unveiled: A Beginner's Journey

1.2: Scarcity, Choices, Incentives, and Opportunity Costs

1.3: Economic Decision-Making: Budget Constraint and Thinking in Marginal Terms

1.4: The Economic Toolbox: Interpreting Diagrams and Equations

1.5: Economic Models

Unit 1 Assessment

Unit 2: Supply and Demand

2.1: Introduction to Demand and Supply

2.2: Demand for Goods and Services

2.3: Supply of Goods and Services

2.4: Market Equilibrium and Demand and Supply Changes

2.5: Application of Market Equilibrium to the Analysis of the Labor Market and the Financial Markets

Unit 2 Assessment

Unit 3: Elasticity and its Applications

3.1: The Concept of Elasticity

3.2: Elasticities of Demand

3.3: Elasticity of Supply and Its Applications

3.4: Elasticity, Revenues, and Pricing Decisions

3.5: Elasticity and Its Applications

Unit 3 Assessment

Unit 4: Markets and Maximizing Individual Behavior

4.1: Maximizing in the Market Place: Consumer Surplus, Producer Surplus and Social Surplus

4.2: Price Controls and Efficiency

4.3: When Markets Fail: Externalities and Introduction to Public Goods

4.4: Poverty, Income Inequality, and Discrimination in the Labor Market

Unit 4 Assessment

Unit 5: Introduction to Consumer Choice

5.1: The Rational Consumer, Consumer Preferences, and Consumer Choice

5.2: Indifference Curves

5.3: Building the Demand Curve from an Indifference Curve Map

Unit 5 Assessment

Unit 6: The Producer

6.1: Introduction to Production and the Firm

6.2: Production Decisions in the Short Run

6.3: Production Decisions in the Long Run

Unit 6 Assessment

Unit 7: Market Structure: Competitive and Non-Competitive Markets

7.1: Perfect Competition

7.2: Non-competitive Markets: Monopoly

7.3: Imperfect Competition: Monopolistic Competition and Oligopoly

7.4: Monopolies and Antitrust Policies

Unit 7 Assessment

Unit 8: The Role of the Government in a Market Economy

8.1: Public Goods

8.2: Government Revenue and Expenditures

8.3: Choices in the Public Sector

8.4: Private Bargaining vs. Government Intervention

Unit 8 Assessment

Study Guide

Course Feedback Survey

Certificate Final Exam

Saylor Direct Credit

Quizzes