Understand the economic forces that shape our daily decisions and market outcomes in this engaging introduction to microeconomics. This 8-week course teaches you to think like an economist, analyzing how individuals, households, and firms make choices in a world of scarcity. Perfect for business students, aspiring entrepreneurs, policy enthusiasts, or anyone wanting to understand market dynamics, this course demystifies economic concepts through practical examples. You will learn about opportunity costs and trade-offs, how supply and demand determine prices, price elasticity and consumer behavior, production costs and firm decisions, different market structures from perfect competition to monopoly, and market failures including externalities and public goods. Through interactive examples and real-world applications, you will see economics in action every day. No prerequisites required ÔÇô just basic math skills and curiosity about how markets work. You will develop analytical thinking and problem-solving abilities that apply far beyond economics. By the end of this course, you will understand market mechanisms, be able to analyze economic policies, and make better-informed decisions as a consumer, worker, or business owner.
Professor of Business Administration specializing in economics and entrepreneurship with 20+ years of industry experience.
8 modules • 32 resources • 8 quizzes
Scarcity, choice, and opportunity cost
Market forces and equilibrium
Price sensitivity of consumers and producers
How consumers make decisions
How firms produce goods efficiently
Markets with many small firms
Markets dominated by few firms
When markets dont work efficiently