About this Course

129,558 recent views

Most people make the incorrect assumption that economics is ONLY the study of money. My primary goal in this course is to shatter this belief. During this course, we will be addressing the above questions as well as many more relating to:
-the environment
-love and marriage
-crime
-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!

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Beginner Level

None

Approx. 27 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

What you will learn

Identifying hidden costs of anything

Skills you will gain

Economics
Critical Thinking
Microeconomics
Economic Analysis

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Beginner Level

None

Approx. 27 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Instructor rating

4.78/5 (601 Ratings)

Dr. José J. Vázquez-Cognet

Clinical Professor

Department of Economics

152,137 Learners

1 Course

Syllabus - What you will learn from this course

Content Rating97%(17,980 ratings)

Week

1

Week 1

2 hours to complete

Course Orientation

2 hours to complete

1 video (Total 3 min), 4 readings, 1 quiz

3 hours to complete

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.

3 hours to complete

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

Week

2

Week 2

4 hours to complete

Supply and Demand

4 hours to complete

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

17 videos

1.1. What is a Market?1m

1.2. The Market for Romantic Relationships7m

2.1. The Determinants of Demand4m

2.2. The Demand Function, Schedule, and Curve7m

2.3. Introducing Comparative Statistics: Changes in the Price4m

2.4. A Change in Demand, Part 113m

2.5. A Change in Demand, Part 210m

3.1. The Determinants of Supply4m

3.2. The Supply Equation, Schedule, and Curve7m

3.3. Price of an Input Changes5m

3.4. A Change in Technology4m

4.1. Supply Surplus, Supply Shortage, and Equilibrium Price12m

5.1. Changes in Demand: Price of Related Goods10m

5.2. Changes in Demand: Consumer Preferences4m

5.3. A Change in Supply7m

5.4. Simultaneous Change in Supply and Demand6m

6.1. Demand and Supply Conclusion8m

1 reading

Week 2 Overview15m

1 practice exercise

Week 2 Quiz30m

Week

3

Week 3

3 hours to complete

Market Efficiency and Government Policies

3 hours to complete

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

10 videos

1.1. Do We Need Silly Products?8m

2.1. What is Consumer Surplus?8m

2.2. Consumer Surplus and the Demand Curve3m

3.1. What is Producer Surplus?3m

3.2. Producer Surplus and the Supply Curve3m

4.1. Total Surplus: The Graphical Argument for Free Markets9m

5.1. Price Ceilings8m

5.2. Price Floors11m

6.1. Could We Reduce the Shortage of Human Organs?7m

6.2. Application: Playoff Tickets and Scalping Laws3m

1 reading

Week 3 Overview15m

1 practice exercise

Week 3 Quiz30m

Week

4

Week 4

3 hours to complete

Elasticities

3 hours to complete

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

14 videos

1.1. Introduction to Elasticity4m

2.1. Definition and Classifying Price Elasticities of Demand10m

2.2. Price Elasticity of Demand and Revenue4m

2.3. Determinants of Price Elasticity of Demand10m

2.4. Price Elasticities of Demand and the Linear Demand Curve5m

3.1. Income Elasticity of Demand5m

3.2. Cross-Price Elasticity of Demand8m

4.1. Definition of Price Elasticity of Supply2m

4.2. Determinants of Price Elasticity of Supply2m

5.1. Introduction to Per-Unit Taxes4m

5.2. The Distributional Effects of Tax13m

5.3. Taxes and Surplus4m

6.1. Should Black Dog Increase the Price of Their Sandwiches?2m

6.2. Other Applications of Price Elasticity8m

1 reading

Week 4 Overview15m

1 practice exercise

Week 4 Quiz30m

Week

5

Week 5

3 hours to complete

Production and Costs

Welcome to your fifth week! 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.

3 hours to complete

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

Week

6

Week 6

3 hours to complete

Competitive Output

3 hours to complete

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

10 videos

1.1. Introduction to Competitive Output2m

2.1. The Maximizing Profit Assumption3m

2.2. The Profit Equation7m

2.3. The Profit Maximizing Rule10m

3.1. Perfect Competition6m

4.1. The Short-run Decision8m

4.2. Long-run Competitive Output11m

4.3. Using the Long-run Equilibrium Model10m

4.4. The Long-run Supply Curve11m

5.1. Conclusion to Competitive Output3m

1 reading

Week 6 Overview15m

1 practice exercise

Week 6 Quiz30m

Week

7

Week 7

3 hours to complete

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.

3 hours to complete

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

10 videos

1.1. Pricing with Market Power: An Introduction3m

2.1. Market Structures With Pricing Power7m

2.2. Sources of Market Power12m

3.1. When Marginal Revenue is Less than Price9m

3.2. Marginal Revenue and the Price Elasticity of Demand6m

4.1. Perfect Price Discrimination9m

4.2. Imperfect Price Discrimination10m

4.3. Other Pricing Strategies8m

5.1. The Social Cost of Market Power7m

6.1. Pricing with Market Power: Conclusion4m

1 reading

Week 7 Overview15m

1 practice exercise

Week 7 Quiz30m

Week

8

Week 8

4 hours to complete

Public Goods, Common Resources, and Externalities

4 hours to complete

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

13 videos

1.1. Introduction to Public Goods, Common Resources, and Externalities3m

2.1. How to Classify Goods10m

2.2. What Type of Good is This?5m

3.1. The Public Goods Game13m

3.2. Public Goods4m

3.3. Solving the Free Rider8m

4.1. The Tragedy of the Commons8m

4.2. How to Deal with the Tragedy of the Commons4m

5.1. Negative Externalities10m

5.2. Positive Externalities5m

5.3. Private Solutions8m

5.4. Governmental Solutions10m

6.1. Conclusion to Public Goods, Common Resources, and Externalities4m

1 reading

Week 8 Overview15m

1 practice exercise

Week 8 Quiz30m

Reviews

4.8

588 reviews

5 stars
82.41%
4 stars
14.51%
3 stars
1.38%
2 stars
0.56%
1 star
1.12%

TOP REVIEWS FROM MICROECONOMICS PRINCIPLES

by MMJan 11, 2017

This is one of finest course to know the basics and to enhance the microeconomics principles. Professor explained all concepts with simple examples that we will never forget.

by ASOct 13, 2019

The course was intuitive and very interesting. All the examples were relevant and easy to follow.

If anything, I'd prefer if the course progressed a little faster than it did.

by GSFeb 13, 2021

This course provided me various learning insights which are so much helpful .This provided me some real life examples by which we can understand this better.this is nicely designed course.

by FDec 3, 2016

Perfect course. Everything is clear. I really like the way the instructor teach something and I should note that the examples he uses are legendary :D For exmple market for romantic relationships.

View all reviews

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I purchase the Certificate?
When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

More questions? Visit the Learner Help Center.

Microeconomics Principles