In this second portion of the three-course specialization covering economics, we're going to be focusing on Microeconomics or the business side of things. This course is also based heavily on my ECON 100 course that I teach here at Rice University. Through lectures, short quizzes, problem sets, and discussions we're going to take a look at subjects such as, costs of production, perfect competition, monopolies, monopolistic competition, oligopolies, and household choices. And you'll still get all the unsolicited food and cooking advice sprinkled in there too :)
Principles of Economics: Microeconomics - Down to Business
Principles of Economics: Microeconomics - Down to Business
This course is part of A Story of Economics: A Principles Tale Specialization
Taught in English
Instructor: James DeNicco
Included with 
Course
Gain insight into a topic and learn the fundamentals
Beginner level
Recommended experience
13 hours (approximately)
Flexible schedule
Learn at your own pace
Skills you'll gain
Details to know
Shareable certificate
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Recently updated!
November 2023
Assessments
1 quiz, 32 assignments
Course
Gain insight into a topic and learn the fundamentals
Beginner level
Recommended experience
13 hours (approximately)
Flexible schedule
Learn at your own pace
See how employees at top companies are mastering in-demand skills
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This course is part of the A Story of Economics: A Principles Tale Specialization
When you enroll in this course, you'll also be enrolled in this Specialization.
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There are 6 modules in this course
Welcome to the second course of A Story of Economics! Thank you for enrolling! Please take a few minutes and explore the orientation materials that will help you with expectations and what you need to be doing to be successful in this course.
What's included
3 videos4 readings1 discussion prompt
Welcome to costs of production. We're going to look at the cost that firms typically face when they produce. Now, so far, in course 1, we've talked a lot about revenue. We talked a lot about revenue with elasticity, when it's elastic you lower the price to raise revenue, when it's inelastic you raise the price to raise revenue. But firms, they're not trying to maximize revenue. What are they trying to maximize? Let's find out!
What's included
6 videos1 reading6 assignments1 discussion prompt
This is going to be the first of our four different market structures that we're going to look at. Now, when you think of perfect competition, you can think of it more as really like a theoretical boundary. But it's important to understand perfect competition- We're going to be able to compare it to our other market structures, monopoly, monopolistic competition, and oligopoly, so that we can see the benefits and the advantages of competition.
What's included
6 videos6 assignments1 discussion prompt
Here we're going to be talking about our monopolies. Last time we talked about perfect competition. Our monopoly is really going to be the polar opposite of that. What is our monopoly? Well, let's find out!
What's included
6 videos6 assignments1 discussion prompt
Welcome to monopolistic competition and oligopoly. What is monopolistic competition? Well as the name portends, it's a hybrid. It's a hybrid between our perfect competition and our monopolies. But that's not all! Let's get into it!
What's included
5 videos5 assignments1 discussion prompt
Welcome to household choices. We've been talking a lot about our firms. Here now, we're going to start talking more about our households. There's two sides to business, right? There's the buyer, there's the seller. In the labor market, there's the employee and the employer. So here as far as our household goes, who is the household in the goods market? Let's explore!
What's included
9 videos1 quiz9 assignments1 discussion prompt
Instructor
Offered by
Recommended if you're interested in Economics
Rice University
Rice University
The Hong Kong University of Science and Technology
Rice University
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