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Microeconomics Principles – Free Online Certificate Course

Coursera is offering a free online certificate course from the University of Iillinois on Microeconomic Principles, the course provides an introduction to the functions of individual decision-makers, both consumers and producers, within the larger economic system.

The course will also focus on the nature and functions of product markets, the theory of the firms under varying conditions of competition and monopoly, and the role of government in promoting efficiency in the economy.

The course on Microeconomics begins from August 26th, 2013 and interested students can enroll at the link below:

microeconomics course online

Microeconomic Principles : About the Course

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.  In fact, in the last 50 years economists have tackled some of the most interesting and important questions for humanity.  For instance, the following are just a few examples:

  • About Love and Marriage
    • Why is the divorce rate so high and what should we do in order to reduce it?
  • About the Environment
    • Why do we have so much pollution?
    • How much is an endangered species worth?
  • About Crime
    • Would legalizing marijuana lead to a reduction in crime?
  • About Labor Markets
    • Does increasing the Federal Minimum Wage put people out of work?
    • Why did so many women enter the labor force during the last 40 years?
  • About things you should be worrying about
    • Why is a college education a smart investment? Or isn’t?
    • Why are the presidential candidates missing the point on college costs?
  • And about many other things:
    • Would school vouchers lead to improvements in public education?
    • Why a draft would only damage the army?
    • How to level the playing field in baseball?
    • AND, why is COURSERA offering this course free of charge?

Additional questions we will consider:

    • What economists do and the strange way they think? (Basic Concepts, Modeling and Trade)
    • What determines prices and quantity in a market economy? (Supply and Demand)
    • What is the relationship between free market economies and social welfare? (Market Efficiency and Government Intervention)
    • What are the distributional effects of taxes? (Elasticity and Taxes)
    • What is the relationship between production and costs in a firm? (Production and Costs)
    • How competitive firms choose their efficient level of output? (Competitive Output)
    • What are the pricing policies of firms with some degree of market power? (Firms With Market Power)
    • How much pollution is too much pollution? (Public Goods, Common Resources and Externalities)

We will be addressing many of these (and many more) questions during this course. Again, my main goal will 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 pretty much to anything you end up doing with your life after this class. After all, as you will quickly find out, I believe everything is economics!

Course Syllabus

WeekDates4-week Format8-week Format16-week Format
1August 26-September 1Basic Concepts, Modeling and Trade
Supply and Demand
Basic Concepts, Modeling and TradeBasic Concepts, Modeling and Trade
2September 2-8Market Efficiency and Government Intervention
Supply and DemandBasic Concepts, Modeling and Trade, continued
3September 9-15Production and Costs
Competitive Output
Market Efficiency and Government InterventionSupply and Demand
4September 16-22Firms With Market Power
Public Goods, Common Resources and Externalities
Elasticity and TaxesSupply and Demand, continued
5September 23-29Production and CostsMarket Efficiency and Government Intervention
6September 30-October 6Competitive OutputMarket Efficiency and Government Intervention
7October 7-13Firms With Market PowerElasticity and Taxes
8October 14-20Public Goods, Common Resources and ExternalitiesElasticity and Taxes
9October 21-27Production and Costs
10October 28-November 3Production and Costs
11November 4-10Competitive Output
12November 11-17Competitive Output
13November 18-24Firms With Market Power
14November 25-December 1Firms With Market Power
15December 2-8Public Goods, Common Resources and Externalities
16December 9-15Public Goods, Common Resources and Externalities, continued
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