Certification in Microeconomics and Macroeconomics theory
What you’ll learn
- You will learn about the Introduction to Microeconomics, The Concept of Equilibrium, Consumer Theory–Cardinal Utility Analysis.
- Learn Ordinal Utility Theory: Indifference Curve Approach, The Revealed Preference Theory of Demand.
- Learn . Theory of Demand and Elasticity of Demand, Recent Developments in Demand Theory. Production Function and Law of Production.
- You will be able to learn about Theory of Cost and Revenue. Isoquant Curve, Iso-cost Line. Concepts of Revenue, Pricing Under Perfect Competition.
- Learn Theory of Monopoly Firm. Theory of Monopolistic Competition. Theory of Oligopoly.
- Learn about Introduction of Macroeconomics. National Income: Concept of National Income. Economic Welfare and National Income.
- Learn Sectorial Accounting, Classical Theory of Employment, Keynesian Theory of Employment, Theory of Consumption Function.
- Learn Relative Income Hypothesis. Permanent Income and Life Cycle Hypothesis.
- Learn You will learn about the Investment Function. The Theory of Acceleration, Demand of Money
- Learn Quantity Theory of Money, Keynesian Approach, Contribution of Baumol and Tobin. Restatement of Friedman’s Quantity Theory of Money.
- This training will be useful if your job involves Money Supply: Definition and Importance of Money.
- Learn Money Multiplier and Credit Creation by Commercial Banks. IS – LM Analysis. Equilibrium in Product and Money Market.
- Learn Effect of Monetary Policies Under Different Cases in IS-LM Framework. Effect of Fiscal Policies Under Different Cases in IS-LM Framework. Inflation.
- Discover how to get the knowledge Phillips Curve Analysis, Trade Cycles: Meaning and Types.
- Learn The Super-Multiplier of the Multiplier Accelerator Interaction. Kaldor’s Theory of Trade Cycle Contents. Monetary Policy.
Description
Take the next step in your career! Whether you’re an up-and-coming professional, an experienced executive, aspiring manager, budding Professional. This course is an opportunity to sharpen your micro and macroeconomic theory capabilities, increase your efficiency for professional growth and make a positive and lasting impact in the business or organization.
With this course as your guide, you learn how to:
All the basic functions and skills required for Micro and Macro economics theory.
Transform to the Introduction to Microeconomics, The Concept of Equilibrium, Consumer Theory–Cardinal Utility Analysis. Ordinal Utility Theory: Indifference Curve Approach, The Revealed Preference Theory of Demand. Theory of Demand and Elasticity of Demand,
Learn useful case studies, understanding Introduction of Macroeconomics. National Income: Concept of National Income. Economic Welfare and National Income. Sectorial Accounting, Classical Theory of Employment, Keynesian Theory of Employment, Theory of Consumption Function. Relative Income Hypothesis
Invest in yourself today and reap the benefits for years to come.
The Frameworks of the Course
· Engaging video lectures, case studies, assessment, downloadable resources and interactive exercises. This course is created to Learn about Introduction to Microeconomics, The Concept of Equilibrium, Consumer Theory–Cardinal Utility Analysis. Ordinal Utility Theory: Indifference Curve Approach, The Revealed Preference Theory of Demand. Theory of Demand and Elasticity of Demand, Recent Developments in Demand Theory. Production Function and Law of Production.
Introduction of Macroeconomics. National Income: Concept of National Income. Economic Welfare and National Income. Sectorial Accounting, Classical Theory of Employment, Keynesian Theory of Employment, Theory of Consumption Function. Relative Income Hypothesis. Permanent Income and Life Cycle Hypothesis
The course includes multiple Case studies, resources like formats-templates-worksheets-reading materials, quizzes, self-assessment, film study and assignments to nurture and upgrade your Macroeconomic and Microeconomics theory.
· In the first part of the course, you’ll learn the details of the Introduction to Microeconomics, The Concept of Equilibrium, Consumer Theory–Cardinal Utility Analysis. Ordinal Utility Theory: Indifference Curve Approach, The Revealed Preference Theory of Demand. Theory of Demand and Elasticity of Demand, Recent Developments in Demand Theory. Production Function and Law of Production. Theory of Cost and Revenue. Isoquant Curve, Iso-cost Line. Concepts of Revenue, Pricing Under Perfect Competition. Theory of Monopoly Firm. Theory of Monopolistic Competition. Theory of Oligopoly.
· In the second part of the course, you’ll develop the knowledge related to Macroeconomics. National Income: Concept of National Income. Economic Welfare and National Income. Sectorial Accounting, Classical Theory of Employment, Keynesian Theory of Employment, Theory of Consumption Function. Relative Income Hypothesis. Permanent Income and Life Cycle Hypothesis, the Investment Function. The Theory of Acceleration, Demand of Money: Quantity Theory of Money, Keynesian Approach, Contribution of Baumol and Tobin. Restatement of Friedman’s Quantity Theory of Money. Money Supply: Definition and Importance of Money. Money Multiplier and Credit Creation by Commercial Banks. IS – LM Analysis. Equilibrium in Product and Money Market. Effect of Monetary Policies Under Different Cases in IS-LM Framework. Effect of Fiscal Policies Under Different Cases in IS-LM Framework. Inflation. Phillips Curve Analysis, Trade Cycles: Meaning and Types. The Super-Multiplier of the Multiplier Accelerator Interaction. Kaldor’s Theory of Trade Cycle Contents. Monetary Policy
Course Content:
Part 1
Introduction and Study Plan(Microeconomics Theory).
· Introduction and know your Instructor
· Study Plan and Structure of the Course
1. Introduction to Microeconomics theory
1.1. Introduction
1.2. Microeconomy- meaning, its scope.
1.3. Importance of Microeconomics
2. The Concept of Equilibrium
2.1. Introduction, Meaning.
2.2. Static Equilibrium
2.3. Dynamic Equilibrium
2.4. General Equilibrium
3. Consumer Theory–Cardinal Utility Analysis
3.1. Introduction.
3.2. Total Utility, TUx= f(Qx)
3.3. Significance of the Difference between Total Utility and Marginal Utility
3.4. Law of Diminishing Marginal Utility
3.5. Importance of the Law
3.6. Criticisms of the Law
4. Ordinal Utility Theory: Indifference Curve Approach
4.1. Introduction
4.2. What is an Indifference Curve?
4.3. Assumptions of Indifference Curve Analysis
4.4. Consumer’s Equilibrium
4.5. Effect of Change in Commodity Price on Consumer’s Equilibrium
4.6. Income Effect
4.7. Substitution Effect
4.8. How Slutsky’s Approach Differs from Hicks’ Approach
4.9. Price Consumption Curve
4.10. Difference between Demand Curve and Price Consumption Curve
4.11. Income Consumption Curve
4.12. Engel’s Curve
4.13. Criticism of Demand Theory
5. The Revealed Preference Theory of Demand
5.1.Introduction
5.2.The Law of Demand
6. Theory of Demand and Elasticity of Demand
6.1.. Introduction
6.2. Elasticity of Demand
6.3. Normal Situations of Price Elasticity of Demand
6.4. Total Outlay or Total Expenditure Method
6.5. Factors Determining the Price Elasticity of Demand
6.6. Cross Elasticity of Demand
6.7. Importance of Price Elasticity of Demand
7. Recent Developments in Demand Theory
7.1. Introduction.
7.2. Limitations of Demand Functions
7.3. The Linear Expenditure System
7.4. Direct and Indirect Utility Functions
7.5. Lancaster’s Attributes or Characteristics Demand Theory
7.6. Critical Appraisal of Lancaster’s Demand Theory
8. Production Function and Law of Production
8.1. Introduction
8.2. Fixed and Variable Inputs or Factors of Production
8.3. Causes of Diminishing Returns to a Factor
8.4. Importance of the Law
9. Theory of Cost and Revenue
9.1. Introduction
9.2. Why is MC Curve ‘U’ Shaped?
10. Isoquant Curve, Iso-cost Line
10.1. Introduction
10.2. Difference between Isoquant Curves and Indifference Curves
11. Concepts of Revenue.
11.1. Introduction
11.2. Concepts of Revenue Under Different Market Conditions
12. Pricing Under Perfect Competition
12.1. Introduction, Equilibrium Price
12.2. Comparison between Market Price and Normal Price
13. Theory of Monopoly Firm
13.1. Introduction.
13.2. Features of Monopoly
13.3. Types of Price Discrimination
13.4. Degrees of Price Discrimination
13.5. Dumping
13.6. Multi-plant Monopoly
14. Theory of Monopolistic Competition
14.1. Introduction
14.2. Characteristics of Monopolistic Competition
14.3. Long-Run Equilibrium in Monopolistic Competition
14.4. Excess Capacity
14.5. Empirical Evidence
14.6. Non-price Competition
14.7. Selling Costs
15. Theory of Oligopoly
15.1. Introduction
15.2. Features of Oligopoly
15.3. Classification of Oligopoly
15.4. Firm-Created Causes
15.5. Why Bigness? Or What Causes the Emergence of Oligopoly?
16. Assignment
Part 2
Introduction and Study Plan(Macroeconomics Theory).
· Introduction and know your Instructor
· Study Plan and Structure of the Course
1. Introduction of Macroeconomics
1.1. Introduction
1.2. Salient points on the Difference between Microeconomics and macro economics
1.3. What do we study in Macroeconomics?
1.4. Major Macroeconomic Issues
1.5. Growth and Development
1.6. Employment
1.7. Business cycle
1.8. Macroeconomic Targets and Instruments
2. National Income : Concept of National Income
2.1. Introduction
2.2. Private Income
2.3. Personal Income
3. Economic Welfare and National Income
3.1. Introduction
3.2. Relation between Economic Welfare and National Income
3.3. National Income as a Measure of Economic Welfare
4. Sectorial Accounting
4.1. Introduction.
4.2. Private Sector
4.3. The Government Sector
4.4. The importance of social and national accounting
5. Classical Theory of Employment
5.1. Introduction
5.2. Keynes’ Criticism of Classical Theory
6. Keynesian Theory of Employment
6.1. Introduction.
6.2. Aggregate Demand
6.3. Comparison of Classical and Keynesian Theory of Employment
7. Theory of Consumption Function
7.1. Introduction
7.2. Absolute Income Hypothesis
8. Relative Income Hypothesis
8.1. Introduction.
8.2. Relative Income Hypothesis’s Criticisms
9. Permanent Income and Life Cycle Hypothesis
9.1.Introduction.
10. Investment Function
10.1. Introduction
10.2. Marginal Efficiency of Capital, Supply Price of Capital Asset
11. The Theory of Acceleration
11.1. Introduction.
12. Demand of Money: Quantity Theory of Money
12.1. Introduction, what is Value of Money?
13. Keynesian Approach
13.1. Introduction
13.2. Keynesian Theory Related with Money and Prices
13.3. Superiority of Keynesian Approach
14. Contribution of Baumol and Tobin
14.1. Introduction
14.2. Baumol’s Inventory Theoretical Approach
14.3. It’s Superiority over Keynesian Theory
15. Restatement of Friedman’s Quantity Theory of Money
15.1. Introduction
15.2. Friedman’s Theory
15.3. Forms of Assets
15.4. Friedman Vs Keynes
16. Money Supply: Definition and Importance of Money
16.1. Introduction
17. Money Multiplier and Credit Creation by Commercial Banks
17.1. Introduction
17.2. Limitations of Credit Creation
17.3. Competitive Banking and Credit Expansion
17.4. How does Money Get into the Economy?
18. IS – LM Analysis
18.1. Introduction
19. Equilibrium in Product and Money Market
19.1. Introduction
19.2. Simultaneous Equilibrium in Product and Money Market
19.3. How would Equilibrium be Achieved?
20. Effect of Monetary Policies Under Different Cases in IS-LM Framework
20.1. Introduction.
21. Effect of Fiscal Policies Under Different Cases in IS-LM Framework
21.1. Introduction
22. Inflation
22.1. Introduction
22.2. On the basis of rate of Inflation:
22.3. Inflationary Gap
22.4. Effects on Production and Economic Activities
22.5. Effects on Distribution of Income
22.6. Other Effects
22.7. Control of Inflation
22.8. Fiscal Measures
23. Phillips Curve Analysis
23.1. introduction
23.2. Friedman’s View: The Longrun Phillips Curve
23.3. Criticism
23.4. Rational Expectations and the Phillip Curve
24. Trade Cycles: Meaning and Types.
24.1. Introduction
24.2. Types of Trade Cycles
24.3. Theories of Business Cycles
24.4. Hicks’s Theory of Trade Cycle
25. The Super-Multiplier of the Multiplier Accelerator Interaction
25.1. Introduction
26. Kaldor’s Theory of Trade Cycle Contents
26.1. Introduction
26.2. Stabilisation Policies or Measures to Control Trade Cycles
27. Monetary Policy
27.1. Introduction, Meaning of Monetary Policy
28. Assignments
· Introduction to Microeconomics
· Microeconomics Examples or Case Studies
· Microeconomics sample project
· Introduction to Macroeconomics
· Macroeconomics Examples or Case Studies
· Macroeconomics sample project
Who this course is for:
- Professionals in related to the Microeconomics, The Concept of Equilibrium, Consumer Theory–Cardinal Utility Analysis. Ordinal Utility Theory: Indifference Curve Approach, The Revealed Preference Theory of Demand. Introduction of Macroeconomics. National Income: Concept of National Income. Economic Welfare and National Income. Sectorial Accounting, Classical Theory of Employment, Keynesian Theory of Employment, Theory of Consumption Function.
- New professionals who are looking to see them successful in the micro and macroeconomics-based theories.
- Existing professionals and managers who are looking to get more engagement and innovation from their teams and organizations
