Free microeconomics course: consumer dynamics
This online microeconomics course covers price discrimination, labour markets, the Tragedy of the Commons, unions, taxation, budget constraints and more.
This free online microeconomics course focuses on the consumer. The consumer plays an important role in the structure of the economy and in this course you will learn how everything, from age to education, affects the price one pays or the wages one earns. Grapple with price discrimination, labour markets, wages and labour unions, taxation and government provisions, public good, the Tragedy of the Commons problem, and more.
What You Will Learn In This Free Course
Price Discrimination
In this module, you will be introduced to the concept of price discrimination. Take part in a discussion whether or not price discrimination is good for society, depending on the output. Then, learn about tying and bundling. Decide whether these processes are forms of price discrimination and whether they are good or bad for social welfare.
Labor Markets
In this module, learn about the marginal product of labor. All of your questions about wages and labor unions will be answered. Learn how to derive the demand for labor based on the marginal product of labor. Furthermore, learn about the value of education and the signals an education creates. In addition, learn about the concept of human capital.
Public Good and the Tragedy of the Commons
In this module, we will explore the concept of public goods. Learn about taxation and government provisions, and how this relates to free and forced riders. Then, learn about club goods and how profit can be made off public goods. Lastly, learn about common goods and the tragedy of the commons.
Asymmetric Information
In this module, you will learn about the theory of adverse selection, asymmetric information, and propitious selection. This will include discussions on asymmetrical information regards to buying cars and health insurance. You will also be introduced to the concept of moral hazard and solutions to avoiding it.
Consumer Choice
In this module, learn about consumption, utility, and substitution. Understand how much value you receive from a good or service and at what point that this value begins to diminish. Additionally, understand the meaning of a budget line and an indifference curve and how you can combine these to get maximum utility.
Course assessment
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