Perfect markets achieve efficiency: maximizing total surplus generated. But real markets are imperfect. In this course we will explore a set of market imperfections to understand why they fail and to explore possible remedies including as antitrust policy, regulation, government intervention. Examples are taken from everyday life, from goods and services that we all purchase and use. We will apply the theory to current events and policy debates through weekly exercises. These will empower you to be an educated, critical thinker who can understand, analyze and evaluate market outcomes.
Offert par
Microeconomics: When Markets Fail
Université de PennsylvanieÀ propos de ce cours
20 277 consultations récentes
Dates limites flexibles
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Certificat partageable
Obtenez un Certificat lorsque vous terminez
100 % en ligne
Commencez dès maintenant et apprenez aux horaires qui vous conviennent.
Approx. 12 heures pour terminer
Anglais
Sous-titres : Anglais, Mongol
Compétences que vous acquerrez
- Externality
- Economics
- Microeconomics
- Market (Economics)
Dates limites flexibles
Réinitialisez les dates limites selon votre disponibilité.
Certificat partageable
Obtenez un Certificat lorsque vous terminez
100 % en ligne
Commencez dès maintenant et apprenez aux horaires qui vous conviennent.
Approx. 12 heures pour terminer
Anglais
Sous-titres : Anglais, Mongol
Offert par
Université de Pennsylvanie
The University of Pennsylvania (commonly referred to as Penn) is a private university, located in Philadelphia, Pennsylvania, United States. A member of the Ivy League, Penn is the fourth-oldest institution of higher education in the United States, and considers itself to be the first university in the United States with both undergraduate and graduate studies.
Programme de cours : ce que vous apprendrez dans ce cours
3 heures pour terminer
Costs and Profits + Perfect Competition
In the first part of the course we learnt that if we allow market forces to work we reach an efficient outcome: the maximum benefit that can be generated by a market. The second part of the course explores cases where the markets fail to accomplish our goals. This week sets up the benchmark case of the perfectly competitive market: a model we will modify in the next few weeks. We define Perfect Competition, learn to model it graphically and discuss some key results in terms of long run profits and implications for efficiency.
3 heures pour terminer
20 vidéos (Total 45 min), 1 lecture, 3 quiz
2 heures pour terminer
Monopoly
A monopoly is a case where there is only one firm in the market. We will define and model this case and explain why market power is good for the firm, bad for consumers. We will also show that society as a whole suffers from the lack of competition.
2 heures pour terminer
13 vidéos (Total 39 min)
2 heures pour terminer
Monopoly Continued
Monopolies come in various types: one price monopoly, natural monopoly, price discrimination and monopolistic competition. This week we will expand the basic monopoly model to cover these cases and then explore market outcomes in each case. We will also discuss how government may intervene in such cases to benefit society as a whole and increase the surplus generated by the market.
2 heures pour terminer
14 vidéos (Total 39 min)
3 heures pour terminer
Externalities + Public Goods
Two classic cases of market failure will be defined and explored: externalities and public goods. We will define each case, demonstrate why the market fails to provide the efficient outcome and suggest interventions through either marked design or regulation.
3 heures pour terminer
20 vidéos (Total 52 min)
Avis
- 5 stars80,81 %
- 4 stars15,49 %
- 3 stars3,50 %
- 2 stars0,18 %
Meilleurs avis pour MICROECONOMICS: WHEN MARKETS FAIL
par HT23 avr. 2021
The course is best for those who are beginners to Microeconomics. I had no idea of Microeconomics. This course has given me confidence to start my journey to start learning more. Thanks
par DV23 oct. 2018
Love how the videos were brief, but informative. Very helpful class and exams weren't overly complicated. In the end, I felt as though I retained much of the knowledge.
par JR13 janv. 2018
Great and relevant content, presented in an interesting and easy way; allowing the student to go through the video materials in an individual pace and thus optimize the study sessions.
par LE20 oct. 2016
Another fine course from Professor Stein. I particularly appreciated the final set of lectures, but all were well presented, understandable, and relevant.
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