Microeconomics Principles for a Prosperous Life

In this course, you will learn all of the major principles of microeconomics normally taught in a quarter or semester course to college undergraduates or MBA students.

Perhaps more importantly, you will also learn how to apply these principles to a wide variety of real-world situations in both your personal and professional lives. In this way, a mastery of Microeconomic Principles will help you prosper in an increasingly competitive environment.

Topics include supply and demand, strategic marketing and microeconomics, consumer and production theory, an overview of operations and supply chain management, perfect competition, oligopoly, monopoly, strategic capital finance, how wages and rents are set, the importance of organizational culture and behavior, public goods, and the externalities problem.

Key concepts include the production possibilities frontier, opportunity costs, the law of demand, price floors and ceilings, marginal utility, price elasticity, economies of scale and natural Monopoly, the structure-conduct-performance paradigm, Pareto optimality, deadweight loss, efficiency versus equity, product differentiation, tacit versus explicit collusion, net present value, factors affecting wage differentials, rent versus economic rent, the free rider problem, negative versus positive externalities, Pigouvian taxes and subsidies, the median voter model, and progressive versus regressive taxes.

Note that this course is a companion to Strategic Macroeconomics for Business and Investing. If you take both courses, you will learn all of the major principles normally taught in a year-long introductory economics college course.