Microeconomics: Foundations and Insights
Master key microeconomic principles. Learn consumer-producer choices, market mechanisms, and policy impacts on economic outcomes.
Master key microeconomic principles. Learn consumer-producer choices, market mechanisms, and policy impacts on economic outcomes.
This comprehensive course explores the foundations of microeconomics, providing students with the tools to analyze economic decision-making at the individual and firm level. The curriculum covers essential topics such as consumer and producer choice theory, market structures, social welfare, game theory, and imperfect competition. Students will learn to create and solve basic economic models, evaluate policy interventions, and understand strategic interactions in various market contexts. The course emphasizes practical application of economic concepts to real-world issues, enabling learners to develop critical thinking skills for addressing complex economic problems and policy challenges.
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What you'll learn
Understand and apply the basic toolkit of microeconomic analysis, including opportunity cost and trade-offs
Analyze consumer behavior and decision-making using utility theory and indifference curves
Examine producer theory, including cost structures, profit maximization, and supply decisions
Evaluate market structures and their impacts on economic efficiency and social welfare
Apply game theory concepts to analyze strategic interactions in economic contexts
Understand social choice theory and different approaches to measuring social welfare
Skills you'll gain
This course includes:
10.8 Hours PreRecorded video
45 assignments
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FullTime access
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There are 7 modules in this course
This course provides a comprehensive introduction to microeconomic principles and their applications in real-world scenarios. It begins with foundational concepts of scarcity, choice, and opportunity cost, then progresses through consumer and producer theory, exploring how individuals and firms make optimal decisions. The curriculum covers market structures, from perfect competition to monopoly and oligopoly, and examines how these structures affect economic outcomes. Students will learn about social welfare, game theory, and strategic interactions, gaining insights into how economic agents behave in various contexts. The course also addresses imperfect information, externalities, and public goods, providing a nuanced understanding of market failures and potential policy interventions. Throughout, learners will develop analytical skills to evaluate economic policies and their impacts on different stakeholders.
Basic Toolkit
Module 1 · 3 Hours to complete
Consumer Choice
Module 2 · 3 Hours to complete
Producer Choice
Module 3 · 3 Hours to complete
Perfectly Competitive Market and Basic Policy Toolkit
Module 4 · 3 Hours to complete
Social Choice and Welfare
Module 5 · 3 Hours to complete
Social Strategic Interactions
Module 6 · 3 Hours to complete
Introduction to Imperfect Competition
Module 7 · 3 Hours to complete
Fee Structure
Payment options
Financial Aid
Instructor
Assistant Professor of Economics at Jindal School of Government and Public Policy.
Vatsalya Srivastava is an Assistant Professor of Economics at the Jindal School of Government and Public Policy, O.P. Jindal Global University, India. He serves as the Lead Advisor at AFC India Ltd. (formerly Agricultural Finance Corporation Ltd.), a government consulting organization focused on monitoring and evaluating socio-economic development projects. Vatsalya holds a B.A. (Hons) in Economics from Kirori Mal College, University of Delhi, and an M.Sc. (Cum Laude) in Economics (Resources, Development, and Growth) along with a Research Masters (Distinction) in Economics from Tilburg University in the Netherlands, where he is currently submitting his Ph.D. dissertation. He has received several scholarships for his studies, including the Tilburg University Scholarship Program and the Koopman’s Scholarship. His research interests lie in applying Microeconomic tools, particularly Game Theory, to understand societal organization and to develop an economic paradigm that investigates the incentives and trade-offs underlying social, legal, and political institutions.
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