Об этом курсе
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Субтитры: Английский, Монгольский

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EconomicsMicroeconomicsEconomic AnalysisMarket (Economics)

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Гибкие сроки

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Предполагаемая нагрузка: 5 weeks of study, 4-7 hours/week...


Субтитры: Английский, Монгольский

Программа курса: что вы изучите

2 ч. на завершение

The Concept of Scarcity

Where do markets come from? We will start with understanding the constraint of scarcity that we face and the concept of opportunity cost that reflects the true cost of any decision we make. We will learn to model scarcity using the Production Possibilities Frontier that allows us to visualize tradeoffs, distinguish between efficient, inefficient and unattainable points. We will also discuss how economic growth affects our options and allows us to achieve the previously unattainable.

17 видео ((всего 54 мин.)), 3 материалов для самостоятельного изучения, 3 тестов
17 видео
1.1.1 Opportunity Cost: Introduction2мин
1.1.2 Opportunity Cost: The Cost of Education2мин
1.1.3 Opportunity Cost: Numeric Example 13мин
1.1.4 Opportunity Cost: Numeric Example 22мин
1.1.5 Opportunity Cost: Numeric Example33мин
1.1.6 Opportunity Cost: Numeric Example 42мин
1.2.1 Scarcity: Introduction2мин
1.2.2 Production Possibilities Frontier: Definition2мин
1.2.3 Allocative Efficiency: Defining Marginal Cost and Marginal Benefit3мин
1.2.4 Allocative Efficiency: When Marginal Cost Equals Marginal Benefit1мин
1.2.5 Production Possibilities Frontier: Graphical Approach4мин
1.2.6 Production Possibilities Frontier: Numerical Example4мин
1.2.7 Production Possibilities Frontier: Understanding the Slope2мин
1.2.8 Production Possibilities Frontier: Modeling Technological Change and Growth2мин
1.2.9 Allocative Efficiency: Graphical Approach 13мин
1.2.10 Allocative Efficiency: Graphical Approach 27мин
3 материала для самостоятельного изучения
Additional Readings: General Suggestions10мин
Participate in a Purdue Research Project (Optional)10мин
Additional Readings: Week 110мин
3 практического упражнения
Opportunity Cost6мин
Production Possibility Frontier (PPF)6мин
Production Possibilities Frontier and Growth8мин
1 ч. на завершение

Specialization & Trade

Trade allows us to achieve the unattainable- we can consume more than we can produce on our own. We will introduce the concept of Comparative Advantage and discuss how gains from specialization allow us to use our resources efficiently. We will apply these concepts to a simple model of trade, showing that now the Consumption Possibilities Frontier allows points outside the Production Possibilities Frontier.

14 видео ((всего 39 мин.)), 1 материал для самостоятельного изучения, 2 тестов
14 видео
2.2.1 Comparative Advantage: Numerical Example 1 - Set up1мин
2.2.2 Comparative Advantage: Numerical Example 2 - Individual PPFs3мин
2.2.3 Comparative Advantage: Numerical Example 3 - Joint PPF2мин
2.2.4 Comparative Advantage: Numerical Example 4 - Joint PPF Completed3мин
2.3.2 Comparative Advantage: Definition57
2.2.5 Comparative Advantage: Numerical Example 5 - Gains from Specialization4мин
2.2.6 Comparative Advantage: Numerical Example 61мин
2.2.7 Comparative Advantage: Numerical Example 72мин
2.3.1 Absolute Advantage: Definition42
2.4.1 Gaining from Specialization Through Trade3мин
2.4.2 Gaining from Specialization: The Consumption Possibilities Frontier4мин
2.4.3 Gaining from Specialization: General Graphical Approach5мин
2.4.4 Gaining from Specialization: Imports and Exports3мин
1 материал для самостоятельного изучения
Additional Readings: Week 210мин
2 практического упражнения
Comparative Advantage10мин
1 ч. на завершение

Supply and Demand

We will introduce the central model of Supply & Demand. This will allow you to communicate with other economists and finally understand those business pages and market updates. We will distinguish between a movement along and a movement of the supply & demand curves. We will define market equilibrium as understand that at an equilibrium price there is neither excess demand nor excess supply. We will end by a few scenarios where exogenous changes affect supply and/or demand and analyze the impact on equilibrium price and quantity.

15 видео ((всего 44 мин.)), 1 материал для самостоятельного изучения, 4 тестов
15 видео
3.1.2 The Demand Curve3мин
3.1.3 Shifts of Demand: Part 13мин
3.1.4 Shifts of Demand: Part 24мин
3.1.5 The Supply Curve4мин
3.1.6 Shifts of Supply: Part 12мин
3.1.7 Shifts of Supply: Part 23мин
3.1.8 Market Equilibrium: Definition2мин
3.1.9 Market Equilibrium: Understanding Who Buys and Who Sells2мин
3.1.10 The Invisible Hand: Part 13мин
3.1.11 The Invisible Hand: Part 22мин
3.1.12 Changes in Demand: Effect on Market Equilibrium3мин
3.1.13 Changes in Supply: Effect on Market Equilibrium2мин
3.1.14 Simultaneous Changes in Demand & Supply: Effect on Market Equilibrium2мин
3.1.15 Supply & Demand: Conclusion1мин
1 материал для самостоятельного изучения
Additional Readings: Week 310мин
4 практического упражнения
The Demand Curve8мин
The Supply Curve4мин
Market Equilibrium8мин
A Change in Market Equilibrium6мин
2 ч. на завершение

Understanding Markets: Elasticities, Market Surplus, Efficiency, and Equity

There is a lot of terminology this week. We will introduce of the concept of elasticity of demand that measures the responsiveness of quantity demanded to a change in the price of a good. We will explore the relationship between change in price and revenue or sales and how elasticities can help us predict whether a decrease in price will increase or decrease revenue. We then introduce other elasticities of note: cross price elasticity, income elasticity and elasticity of supply. We end the week by exploring the great accomplishment of markets: maximizing the size of the pie or the total benefit to society.

23 видео ((всего 82 мин.)), 1 материал для самостоятельного изучения, 4 тестов
23 видео
4.1.2 Elasticity of Demand4мин
4.1.3 What Affects Elasticity of Demand4мин
4.1.4 Perfectly Inelastic and Perfectly Elastic Demand4мин
4.1.5 Elasticity Along a Straight Line Demand Curve3мин
4.1.6 Elasticity and Revenue: Part 13мин
4.1.7 Elasticity and Revenue: Part 21мин
4.1.8 Unit Elastic Demand Curve2мин
4.1.9 Cross Price Elasticity: Complements vs. Substitutes2мин
4.1.10 Income Elasticity: Normal vs. Inferior Goods2мин
4.1.11 Elasticity of Supply3мин
4.1.12 Elasticity: Summary1мин
4.2.1 Efficiency & Equity: Introduction2мин
4.2.2 Consumer Surplus5мин
4.2.3 Producer Surplus4мин
4.2.4 Maximizing Total Surplus1мин
4.2.5 T.S. at a Quantity Greater Than Equilibrium Quantity4мин
4.2.6 T.S. at a Quantity Smaller Than Equilibrium Quantity4мин
4.2.7 Efficiency & Equity: Conclusion1мин
4.2.8 Price Ceiling5мин
4.2.9 Price Floors: The Case of Minimum Wage5мин
4.2.10 Calculating Total Surplus: Numerical Example4мин
4.2.11 Price Ceilings: A Numerical Example5мин
1 материал для самостоятельного изучения
Additional Readings: Week 410мин
4 практического упражнения
Elasticity of Demand10мин
Elasticity of Demand & Revenue4мин
Other Elasticity Terms6мин
Consumer and Producer Surplus8мин
Рецензии: 105Chevron Right


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Лучшие рецензии

автор: ASJan 14th 2017

I really enjoyed the clarity with which the concepts were taught. I loved the examples and I thought they were very helpful and made the concepts so much easier to understand.

автор: LYApr 11th 2016

Thanks for the professional details of this course. And I think the numerical examples provided by Professor Rebecca give me good understanding about the power of markets.



Rebecca Stein

Senior Lecturer

О Пенсильванский университет

The University of Pennsylvania (commonly referred to as Penn) is a private university, located in Philadelphia, Pennsylvania, United States. A member of the Ivy League, Penn is the fourth-oldest institution of higher education in the United States, and considers itself to be the first university in the United States with both undergraduate and graduate studies. ...

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