Students on this course will develop their understanding of the technical aspects of Microeconomics such as opportunity cost, supply and demand, consumer and firm optimisation, market power and market failure.
Listen to Dr Sangaralingam Ramesh talking about the course
Microeconomics: an introduction will equip students with the technical skills with which they will be able to understand how consumers and firms make everyday consumption and production decisions. In this case the course will ensure that students are able to relate fundamental microeconomic theory with daily economic activity. The course will also allow students to develop critical thinking skills by considering the case of market failure which occurs in sharp contrast to traditional microeconomic theory. In this case students will learn that despite the notion that supply and demand are determined by the market, there are cases of missing markets where government intervention is required to substitute for the price mechanism. Students will also be able to use the knowledge gained on this course to everyday circumstances. Furthermore, this course will give students a solid foundation which they can use to progress to higher level studies in Microeconomics as well as being able to apply knowledge gained on the course to other online courses such as Globalisation, the New Economic Powers and Introduction to Macroeconomics.
For information on how the courses work, please click here.