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Microeconomics

Free

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Course Level

Intermediate

Video Tutorials

172

Free

Course content

172 Lessons

Basic economic concepts

Introduction to economics
Introduction to economics
Scarcity
Scarcity and rivalry
Four factors of production
Economic models
Normative and positive statements
Economic systems
Property rights in a market system
Markets and property rights
Production possibilities frontier
Production possibilities curve
Opportunity cost
Increasing opportunity cost
PPCs for increasing, decreasing and constant opportunity cost
Comparative advantage and the terms of trade
Comparative advantage, specialization, and gains from trade
Comparative advantage and absolute advantage
Opportunity cost and comparative advantage using an output table
Terms of trade and the gains from trade
Input approach to determining comparative advantage
When there aren’t gains from trade
Comparative advantage worked example

Supply, demand, and market equilibrium

Elasticity

Consumer and producer surplus, market interventions, and international trade

Consumer theory

Production decisions and economic profit

Forms of competition

What to learn?

Instructor

4.45 /5

62 Courses

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