Course description
Principles of Microeconomics: An Economist Way of Thinking
Recent global economic and non-economic events have highlighted the importance of informed and well reasoned decision making of resource allocation and efficiency. This course focuses on how decision making units within the economy (e.g. consumers, firms, government departments) make choices and how choices can be made in a way that makes best possible use of limited available resources. Since life is in large part about making choices, this course will help you to understand why the world is the way it is, and in so doing, shed light on how it might be changed for the better.
Firstly the course equips you to think and see the world like an economist. Topic areas include advancing your knowledge in comparative advantage and opportunity cost. The next area, supply and demand, focuses on how choices are made in a market system and how an economic system coordinates many rational choices of self-interested decision-makers. You will explore the application of economic theory and economic efficiency of competitive markets, as well as consumer and producer surplus and deadweight loss.
This MOOC is part of the Professional Certificate in Microeconomics. We recommend that you explore the other two courses of the program, Competitive and Imperfectly Competitive Markets and Social Microeconomics. The program is based on a core microeconomics course taught on campus at The University of Queensland.
Upcoming start dates
Who should attend?
Prerequisites
You are not required to have any experience or knowledge on particular academic disciplines; however a background in Economics and Statistics will be helpful.
Training content
The topics that are covered within this course include:
- real world examples of comparative advantage and opportunity cost
- economic methodologies and rules that help individuals make rational choices
- supply and demand theory and practical application is thoroughly explored
- how rational choices are made and the role of economic cost benefit analysis
Course delivery details
This course is offered through The University of Queensland, a partner institute of EdX.
1-2 hours per week
Costs
- Verified Track -$99
- Audit Track - Free
Contact this provider
edX
edX For Business helps leading companies upskill their labor forces by making the world’s greatest educational resources available to learners across a wide variety of in-demand fields. edX For Business delivers high-quality corporate eLearning to train and engage your employees...