College Microeconomics: Principles and Applications in the U.S. Economy

Master the fundamentals of Microeconomics with this college-level course. Explore supply and demand, market structures, consumer behavior, and real-world applications in the U.S. economy.

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This College Microeconomics course provides an in-depth exploration of economic principles, including supply and demand, market equilibrium, consumer and producer behavior, and market structures. Through real-world examples and case studies, students will analyze the impact of economic decisions on individual markets and the broader U.S. economy.

Introduction

  • Overview of Microeconomics: Definition and Scope
  • Microeconomics vs. Macroeconomics
  • The Role of Microeconomics in Decision-Making

Module 1: Basic Economic Concepts

  • Scarcity, Choice, and Opportunity Cost
  • The Production Possibility Frontier (PPF)
  • Marginal Analysis and Efficiency
  • Comparative Advantage and Trade

Module 2: Supply and Demand

  • The Laws of Supply and Demand
  • Determinants of Supply and Demand
  • Market Equilibrium and Changes in Equilibrium
  • Price Controls: Price Ceilings and Floors
  • Elasticity: Price, Income, and Cross-Price Elasticity

Module 3: Consumer Behavior

  • Utility Theory: Total and Marginal Utility
  • Budget Constraints and Consumer Choice
  • Indifference Curves and Optimization
  • The Concept of Behavioral Economics

Module 4: Production and Costs

  • The Firm's Production Function
  • Short-Run and Long-Run Costs
  • Economies and Diseconomies of Scale
  • The Relationship Between Costs and Supply

Module 5: Market Structures

  • Perfect Competition: Characteristics and Outcomes
  • Monopoly: Market Power and Regulation
  • Monopolistic Competition and Product Differentiation
  • Oligopoly: Game Theory and Strategic Behavior

Module 6: Factor Markets and Income Distribution

  • Labor Markets: Supply, Demand, and Wage Determination
  • Capital Markets and Investment Decisions
  • The Role of Government in Factor Markets
  • Income Inequality and Economic Mobility

Module 7: Market Failures and the Role of Government

  • Externalities: Positive and Negative
  • Public Goods and the Free-Rider Problem
  • Government Intervention: Taxes, Subsidies, and Regulation
  • Antitrust Policy and Economic Efficiency

Module 8: Applications of Microeconomics in the U.S. Context

  • Case Study: The Housing Market and Rent Control
  • The Role of Microeconomics in Health Care Policy
  • Environmental Economics: Carbon Taxes and Cap-and-Trade
  • Labor Economics: Minimum Wage Debates

Interactive Activities and Assessments

  • Case Studies: Analyze real-world microeconomic scenarios (e.g., tech industry monopolies, agricultural subsidies).
  • Simulations: Market interactions, production decisions, and pricing strategies.
  • Quizzes and Exams: Test comprehension of key concepts.
  • Final Project: Analyze a specific U.S. market using microeconomic principles.

Learning Outcomes

By completing this course, students will be able to:

  1. Explain core microeconomic concepts, such as supply and demand and market equilibrium.
  2. Evaluate the behavior of consumers and producers in various market structures.
  3. Assess the impact of government intervention on market efficiency.
  4. Apply microeconomic principles to real-world issues in the U.S. economy.

1 on 1 Class

  • Custom Schedule

  • UnDivided Attention

  • Flexible Schedules

  • Focused Learning Speed

$20/class

Book a Demo

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