subject

Coursera: The Power of Markets I: The Basics of Supply and Demand and Consumer Behavior

 with  Mark Zupan
Sponsored
Complexity Tutorials
Santa Fe University via Complexity Explorer
Sponsored
Complexity Tutorials
Santa Fe University via Complexity Explorer
This opening module of the Power of Markets course covers the basic assumptions about market participants made by economists, the concept of opportunity cost, and the key determinants of supply and demand. We will then learn how to use the supply-demand framework to explain and predict market outcomes and to show how government policies affect those market outcomes. We will look at how quantity demanded and supplied respond to their key determinants in quantitative (elasticity) as well as qualitative terms. The last two weeks of the first module will investigate consumer behavior more closely and show how consumer choices are driven by the interplay of preferences and budget constraints. We will employ the consumer choice framework to examine investor choice as well as policies such as ObamaCare and school choice. Finally, we will also address the concept of how to distribute a given amount of goods across a society’s consumers in the most efficient manner.

Syllabus

Week 1 - Supply and Demand
Basic Assumptions About Market Participants and the Concept of Opportunity Cost. The Determinants of Demand and Supply.

Week 2 - Supply and Demand
Using the Supply-Demand Framework to Predict and Explain Market Outcomes as well as to Show the Impacts of Government Intervention. Some Key Elasticities of Demand and Supply.

Week 3 - Consumer Choice
Explaining Consumer Choice Through Analyzing Consumer Preferences and Budget Constraints.

Week 4 - Consumer Choice and the Benefits of Exchange
Using Consumer Choice Theory to Analyze Investor Choice as well as Policies Such as ObamaCare and School Choice. Promoting Efficiency in the Distribution of Goods.

1 Student
review
Cost Free Online Course (Audit)
Pace Upcoming
Subject Economics
Provider Coursera
Language English
Certificates Paid Certificate Available
Calendar 4 weeks long
Sign up for free? Learn how

Disclosure: To support our site, Class Central may be compensated by some course providers.

+ Add to My Courses
FAQ View All
What are MOOCs?
MOOCs stand for Massive Open Online Courses. These are free online courses from universities around the world (eg. Stanford Harvard MIT) offered to anyone with an internet connection.
How do I register?
To register for a course, click on "Go to Class" button on the course page. This will take you to the providers website where you can register for the course.
How do these MOOCs or free online courses work?
MOOCs are designed for an online audience, teaching primarily through short (5-20 min.) pre recorded video lectures, that you watch on weekly schedule when convenient for you.  They also have student discussion forums, homework/assignments, and online quizzes or exams.

Review for Coursera's The Power of Markets I: The Basics of Supply and Demand and Consumer Behavior
5.0 Based on 1 reviews

  • 5 star 100%
  • 4 star 0%
  • 3 star 0%
  • 2 star 0%
  • 1 star 0%

Did you take this course? Share your experience with other students.

Write a review
  • 1
5.0 2 years ago
by John Tieso completed this course.
0 person found
this review helpful
Was this review helpful to you? Yes
  • 1

Class Central

Get personalized course recommendations, track subjects and courses with reminders, and more.

Sign up for free