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.
The Power of Markets I: The Basics of Supply and Demand and Consumer Behavior
proposé par
University of Rochester
Programme du cours : ce que vous apprendrez dans ce cours
Semaine
1Week 1 - Supply and Demand
Basic Assumptions About Market Participants and the Concept of Opportunity Cost. The Determinants of Demand and Supply.
9 videos (Total 71 min), 1 lecture, 1 quiz
9 vidéos
Some Preliminaries About Microeconomics 9 min
Basic Assumptions About Market Participants2 min
Opportunity Cost 10 min
Sunk Costs/Benefits 10 min
Production Possibility Frontier (PPF) 8 min
The Determinants of Demand 13 min
The Determinants of Supply 7 min
Market Equilibrium 3 min
1 lectures
Syllabus10 min
1 exercices pour s'entraîner
Week 1 Quiz40 min
Semaine
2Week 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.
8 videos (Total 86 min), 1 quiz
8 vidéos
Intro to Week 211 min
Predicting and Explaining Market Outcomes 11 min
Government Intervention in Markets: Price Ceilings 15 min
Price Elasticity of Demand and it's Relationship to Total Expenditure15 min
Calculating and Applying Price Elasticity of Demand9 min
Determinants of Elasticity of Demand5 min
Three Other Elasticities 5 min
Sharpening your Understanding of Price Elasticity of Demand and Supply 10 min
1 exercices pour s'entraîner
Week 2 Quiz40 min
Semaine
3Week 3 - Consumer Choice
Explaining Consumer Choice Through Analyzing Consumer Preferences and Budget Constraints.
9 videos (Total 74 min), 1 quiz
9 vidéos
Intro to Week 39 min
Consumer Preferences 9 min
Sharpening Your Understanding of Indifference Curves 6 min
The Budget Constraint10 min
The Consumer’s Optimal Choice 14 min
Changes in Income and Consumption Choices6 min
Accounting for Altruism 5 min
Price Changes and Consumption Choices 8 min
From Individual to Market Demand 3 min
1 exercices pour s'entraîner
Week 3 Quiz40 min
Semaine
4Week 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.
9 videos (Total 67 min), 1 quiz
9 vidéos
The Price-Consumption Curve and Elasticity of Demand 6 min
Excise Subsidies - Health Care and Consumer Welfare 9 min
Analyzing ObamaCare I 9 min
Analyzing ObamaCare II 6 min
Analyzing School Choice I 6 min
Analyzing School Choice II 6 min
Investor Choice 4 min
Efficiency in the Distribution of Goods 7 min
1 exercices pour s'entraîner
Week 4 Quiz40 min
4.7
20 avis83%
a bénéficié d'un avantage concret dans sa carrière grâce à ce cours
Meilleurs avis
par A•Apr 8th 2018
The instructor was very nice. He explained every topic with real world examples which made the course easier to understand and interesting.
par JD•Jan 27th 2017
This was very help of everything i need to know about managing and dealing with different kinds of real world problems.
Enseignants
Mark Zupan
Professor of Economics and Public PolicySimon School of Business
À propos de University of Rochester
The University of Rochester is one of the nation's leading private universities. Located in Rochester, N.Y., the University provides exceptional opportunities for interdisciplinary study and close collaboration with faculty through its unique cluster-based curriculum. Its College, School of Arts and Sciences, and Hajim School of Engineering and Applied Sciences are complemented by its Eastman School of Music, Simon School of Business, Warner School of Education, Laboratory for Laser Energetics, School of Medicine and Dentistry, School of Nursing, Eastman Institute for Oral Health, and the Memorial Art Gallery.
Foire Aux Questions
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