Microeconomics: When Markets Fail
Learn about market imperfections, explore remedies, and apply theory to current events in this comprehensive microeconomics course.
Learn about market imperfections, explore remedies, and apply theory to current events in this comprehensive microeconomics course.
This course delves into market imperfections and their remedies, exploring why real markets fail to achieve perfect efficiency. Students will examine various market structures, including monopolies and cases of asymmetric information, and analyze their impacts on economic outcomes. The course covers key concepts such as externalities, public goods, and inequality, providing a comprehensive understanding of when and why markets fail. Through weekly exercises, learners will apply economic theory to current events and policy debates, developing critical thinking skills to evaluate market outcomes. The curriculum is designed to empower students with the knowledge to understand, analyze, and critique real-world economic situations, making it valuable for those interested in economics, policy-making, and business strategy.
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What you'll learn
Understand the concept of market failure and its implications for economic efficiency
Analyze different market structures including perfect competition, monopoly, and monopolistic competition
Explore externalities and public goods, and their impact on market outcomes
Examine the effects of asymmetric information on market efficiency
Learn about inequality and poverty measurement in economic contexts
Apply microeconomic theories to current events and policy debates
Skills you'll gain
This course includes:
217 Minutes PreRecorded video
15 assignments
Access on Mobile, Tablet, Desktop
FullTime access
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There are 5 modules in this course
This course offers a comprehensive exploration of market imperfections in microeconomics. Students will learn about various market structures, including perfect competition, monopolies, and monopolistic competition. The curriculum covers key concepts such as externalities, public goods, and asymmetric information, providing insights into why markets fail and potential remedies. The course also touches on inequality and poverty measurement, offering a well-rounded view of microeconomic challenges. Through practical examples and weekly exercises, learners will apply economic theory to real-world scenarios, developing critical thinking skills to analyze and evaluate market outcomes.
Costs and Profits + Perfect Competition
Module 1 · 2 Hours to complete
Monopoly
Module 2 · 1 Hours to complete
Monopoly Continued
Module 3 · 2 Hours to complete
Externalities + Public Goods
Module 4 · 3 Hours to complete
Asymmetric Information and Inequality
Module 5 · 2 Hours to complete
Fee Structure
Payment options
Financial Aid
Instructor
Senior Lecturer in Economics
Rebecca Stein is a Senior Lecturer of Economics at the University of Pennsylvania, where she teaches large sections of introductory microeconomics to nearly a thousand students annually. She earned her B.A. from Hebrew University of Jerusalem and her PhD from Northwestern University. Dr. Stein has received multiple teaching awards, including the Dean’s Award for Distinguished Teaching and the Irving B. Kravis Prize for Distinction in Undergraduate Teaching.Her research focuses on health economics, particularly risk selection in health insurance markets and the relationship between health insurance and care provision. Recently, she has explored the role of hospitalists in the healthcare system. Dr. Stein's passion for economics began while studying hotel management, leading her to pursue a career that combines her interests in economics and teaching. Through her courses on Coursera, such as "Microeconomics: The Power of Markets" and "Microeconomics: When Markets Fail," she aims to share valuable economic insights with a broader audience.
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4.8 course rating
624 ratings
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