Free online economics course: monopolies and oligopolies

With this free online course on understanding monopolies, you will study market situations where one producer or a group of producers acting in concert controls the supply of goods or a service. Learn about how they can prevent the entry of new suppliers into a market, and exert influence by keeping prices high and restricting output, and how they tend to show little or no responsiveness to the needs of their customers.

What You Will Learn In This Free Course

Introduction to Monopolies in Economics

This module covers what a monopoly is in the world of economics, how it occurs and how it operates. During this module, you will learn how monopolies optimize prices. How to use graphs and formulas to calculate the optimal supply for maximum profit. This course compares and contrasts oligopolies, monopolistic competition and perfect competition and introduces economic terms and concepts such as marginal revenue, opportunity cost and economic profit.

Course assessment