Understanding microeconomics, builds a necessary basis for a successful economist or anyone interested in learning economics. This course will teach the student the application of graphical analysis on economic issues. By the end of the course, the student will know how to identify how equilibrium price is determined in a free market through the interaction of supply and demand. Along with that, knowledge on how to demonstrate the concepts of demand and supply analysis relevant to the business environment will be build.
The course covers different market examples and applications so as to simulate realistic business experience. Through that the student will be able to discuss the dynamic of income distribution and resource allocations. Knowledge will also be acquired on explaining the importance of the regulatory role of the government and its importance.
The course consists of one multiple choice quiz carrying a weight of 100% towards the final course grade. In order to successfully complete the course and obtain your certificate you need to achieve an overall grade of 50% or above at the quiz.
Week 1: Introduction to Economics
Week 2: Demand, Supply and Elasticity
Week 3: Equity & Efficiency and Output & Costs
Week 4: Market Structures & Government Regulations